Bill - This is theoretically true, but in practice Canon, both in its Digic firmware and in DPP, does not preserve the RAW white point. In order to avoid the problem of false colors in the highlights it clips them at around 3600 (12 bit) which means that the RGB image has reduced DR. It's the greatest glaring fault in DPP.
I didn't know that. However if it depends on the RAW developer there is nothing to worry, just choose a tool that does not clip these highlights like DCRAW.
What I know is that the linear 12-bit range of the RAW files is not entirely used in the low end. In fact there is a black offset which varies from camera to camera where the RAW file contains no information at all and all RAW developers (some cameras do it before storing the RAW data) substract automatically.
When I have plotted undemosaiced 12-bit histograms of my RAW files I found no information below level 255 (may vary from shot to shot):

HTTP response: NOT FOUND | MIME changed to 'image/png'



