The sliders may work better, but the image data is no longer intact in its original tonal relationship once you start using "recovery" to recover things you do not need to actually recover. When you use exposure and recovery in Lightroom/ACR, the sliders to which you are presumably referring, it is doing things to your image data without really telling you - in PV2012 even the exposure slider is building in some sort of roll off toward the highlights, so that clipping seems to disappear magically in LR when, in other converters, clipping will be present until you lower the exposure.
Try a couple of your ETTR images in Lr/ACR with PV2010 and PV2012 - set up the image in PV2012 so that there is no clipping and then switch to PV2010 and set the same exposure - clipping will likely be indicated. It is the same raw file and you did nothing to it, so something funky is going on under the hood without your explicitly being able to control it. PV2012 is also making adjustments differently to each image, as the tonal controls adapt to a certain extent to the image content. How can this help the user be able to use the controls in a predictable way?
See:
http://www.adobepress.com …les/article.asp?p=1930485
In the above linked blurb by Martin Evening on the Exposure control in PV2012, his ultimate advice is not to worry too much about clipping using the exposure control in PV2012, but use the exposure control to get the image to be the correct "brightness" - you now use the Exposure Slider to SET THE MIDTONES. This seems pretty loosey goosey advice, but what other advice can he give with a tool whose behavior is not predictable in any specific way other than by eye, on a case-by-case basis. If it is working for you, that's great - just be aware that LR/ACR is making moves on your highlight data (and your image data in general) that are not explicitly revealed to, or controlled by, you.
With respect to the extreme ETTR example posted on Schewe's site in the above link (the image of Niagara Falls) - that the data was able to be rescued (recovered) is made dramatically clear - however, that data is of pretty low quality unless you like your water to have neon green and blue in it. So, ETTR is useful, but it cannot perform miracles.
kirk