I have been experimenting with ACR in 16-bit mode, which likely exceeds my monitor's gamut. However, I seem to be able to recover more highlight details in that mode. The affixed example was taken at 14-bit raw (Nikon D-7000) in full mid-morning sun, PP with ACR and PS as 16-bit, but saved as jpg, or 8-bit.
What if anything might that exercise have improved?
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