BobDiaz
The Professor
this is exactly the sort of thing that makes film so much better than video (if you can afford it) you make a movie now, then make a dvd of it and watch it or whatever, but in 20 years when all the tvs have 16bit colour depth you just rescan your film and it looks awesome compared to the dated video footage shot on 8, 10 and 12 bit cameras from 2010.
The human eye can detect a change in brightness if the difference is greater than 1%. While 8 bits is limited to 256 different values, the range is enough to look like a continuous range.
Going beyond 8 bits, like 10 bits, increases the number of possible values. While you don't see a difference in viewing, the reason is to allow more wiggle room for brightness/color adjustments. You can take an 8 bit video and bend the curves some, but IF you go too far, you'll see a series of steps in a smooth change in brightness. This is known as banding. Going to 10 bits allows for 4 times the number of steps and allows for greater changes in the adjustments without banding.
My guess is that in the future, we'll see an increase of the color depth to allow for greater adjustments. Maybe someday, all professional cameras will record in RAW mode to allow for unlimited color selection adjustments in post.
Film is wonderful and has a great look to it, BUT the color dyes in the film do change over time. A color film shot 40 years ago is likely to show a shift in the color.
Bob Diaz