  The moduli-space metric in the static non-Abelian charge-two sector of the
Moyal-deformed CP^1 sigma model in 1+2 dimensions is analyzed. After recalling
the commutative results of Ward and Ruback and the zeta-regularized
construction of the noncommutative K"ahler potential due to the second author,
explicit expressions and asymptotics for it are presented and discussed in
different regions of the moduli space. Along two curves in the moduli space the
potential can be calculated analytically. In the region of solitons known as
"ring-like", perturbation theory is used. In the region of "lump-like"
solitons, both perturbation theory and the zeta-function approach are employed.
While the strong noncommutativity limit is smooth and under control, the
commutative limit in the two-lump region remains a semiclassical challenge.
