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As for the question, applying the look in post means you're stressing the codec by manipulating the image in post. Any adjustments you make in post to a compressed codec will negatively affect the image with results such as artifacting, banding, noise, etc. If it is just small adjustments the negative affects may not be noticeable.
In my experience ISO 320 in Wide-DR is slightly cleaner and sharper with less noise in the blacks, but also loses dynamic range in the highlights in addition to occasionally having banding which is not present at ISO 850. As such, I don't see why ISO 320 would be considered the base ISO on Wide-DR while 850 is the base ISO on C-Log.
As for the question, applying the look in post means you're stressing the codec by manipulating the image in post. Any adjustments you make in post to a compressed codec will negatively affect the image with results such as artifacting, banding, noise, etc. If it is just small adjustments the negative affects may not be noticeable. Thus, if you know the look you want (such as Wide-DR) it is generally better to shoot in-camera closest to what you want as opposed to adding the LUT in post. If you want to keep your options open and retain more flexibility in post then you can shoot flatter, at the cost of image degradation from stressing the codec.
Wouldn't ISO 640 be considered the native ISO since it is 0dB gain?
With Wide DR at ISOs below 850 on the waveform monitor the highlights show as clipping below 100 IRE, while at ISO 850 it clips at 100 IRE. This seems to me to be an indication that you lose dynamic range in the highlights below ISO 850, which coincides with the Dynamic Range chart for the C100, which says it is for Canon Log, but according to the Waveform monitor looks like it applies to Wide DR as well. So if you're shooting outside and need more range in the highlights, then ISO 850 seems best, while if you have enough range for lower contrast scenes then ISO 320 is good.I made a lot of tests at day light or at night and there is no need to shoot with wdr and iso 850 at day light scenes.
What do you mean by "native ISO"? Once we have the answer to that, we can probably clear things up.
I'm pretty sure ISO 640 is equivalent to 0 dB gain so that's why it's being called the native ISO for WDR.