I have been following this thread for a while now and wanted to chime in with a few things. First, in response to Kholi and the use of 5DtoRGB with Full Range selected, you are actually tossing out data when you do that. I had a long conversation with the folks that make ClipWrap, and in the end we found that what 5dtoRGB does to appear better when reviewing clips in quicktime is it compresses your full luma range in the original .mts files into the broadcast luma range in the newly created .mov files so that they appear accurate in quicktime. What it is actually doing is tossing data to achieve that compression. So while it may seem better at first, do not choose full luma and toss data, simply understand that things that appear to clip when reviewing in quicktime will actually be recoverable in the NLE when pulling down the highlights.
Next, I did a bit of testing with -15 black level, and I too am seeing negative IRE values that are fully recoverable in the NLE by lifting the blacks. Furthermore, they appear to actually be cleaner than if you had gone with +15 black levels at the start, which seem to create a tiny bit of noise and banding. I am doing all of this with cinegamma1 though as it is thus far my preferred PP gamma.
Next, I did a bit of testing with -15 black level, and I too am seeing negative IRE values that are fully recoverable in the NLE by lifting the blacks. Furthermore, they appear to actually be cleaner than if you had gone with +15 black levels at the start, which seem to create a tiny bit of noise and banding. I am doing all of this with cinegamma1 though as it is thus far my preferred PP gamma.





