When recent experimental positronium (Ps) formation cross sections in noble gases have been compared with the most up-to date theoretical studies, the agreement is qualitative, but not quantitative. In this paper we re-examine this process and show that at low energies Ps formation must be treated non-perturbatively. We also look at Ps formation with inner shell electrons. (c) 2006 Elsevier B.V. All rights reserved.