🚀 go-pugleaf

Say the camera has a six-stop dynamic range and capture 12 bits, or 4,096 shades. That means that
  The first 2048 levels represent the brightest f-stop
  The next 1024 levels represent the next-brightest f-stop
  The next 512 levels represent the next-brightest f-stop
  The next 256 levels represent the next-brightest f-stop
  The next 128 levels represent the next-brightest f-stop
  The last 64 levels represent the darkest f-stop


Bruce,

I respectfully disagree completely. See: <http://www.rags-int-inc.com/PhotoTechStuff/TonesnZones/> for an understanding of binary numbers and how they are unrelated to gamma.
See: <http://www.rags-int-inc.com/PhotoTechStuff/DigitalFilm/> for an understanding of how gamma and s-curves do relate to the device (sensor).

ACR does have to apply curves (and gamma) as it demosaices the RAW data, but it has nothing to do with digital numbering systems. If you shoot JPG or TIF the same steps are applied, but by the camera firmware. Thus, ACR has to support each camera model uniquely.

Level 2048 of 4096 is midtone gray. 50% density, 18% reflectance (the gray card).

Cheers, Rags :-)