Dynamic range is complex because it is so dependent upon the detection situation. For example, at high light throughput levels lens flare becomes limiting. At low levels, the detector read noise is limiting for short exposures and shot noise for long exposures. This all interacts with wavelength, the angle at which rays strike the detector, detector surface treatments....... Given all this, just how are we to set up the situation to yield a meaningful (replicable and consistent) DR value?
Engineers use a definition that removes uncontrolled variables as much as possible. It allows them to compare detectors and entire optical trains with some degree of objectivity. Note I say only some degree, because at high bit densities we are looking at very minute differences that tend to fall within the noise floor of the measurement technology. There will be some uncertainty.
Point is, don't expect an engineering DR figure to have much to do with your photography. The DR number reflects rigorously defined measurement protocols and specifically excludes subjective factors such as perceived image quality.
The DR figure is very useful with well defined applications. For example, if you needed an imaging system for low light you would know to select a detector with high QE, slow readout for read noise and cooling for shot noise. Chip packages are well specified on these parameters so you could use DR values to make a direct comparison. Similarly, the lens should have low internal fluorescence/reflectance and various other suitable characterisitcs. Again, these data are available and scientists select optical systems on that basis every day.
The problem is that we do not have a clear definition of what we need for photography - nor do we have an accepted measurement protocol for DR. Therefore, it is not entirely reasonable to expect to be able to look up a CCD or CMOS data set that correlates well with perceived image qualtiy. We are left to make subjective decisions and tend to depend on reviews from trusted sources. We are, therefore, doomed to the endless arguments.
Speaking personally, I've never had a problem in determining subjectively whether one camera produces a higher DR than another. It was always apparent to me that images from negative film had a higher DR than images from slide film. Likewise, it was very apparent that my first P&S camera (the Sony T1) had worse DR than my Canon D60 DSLR, and that my second DSLR (the 20D) had much better DR than my D60 above base ISO, but not much difference at base ISO.
It was also apparent that my first full frame DSLR, the 5D, did not have the expected increase in DR compared with the 20D. In fact it seemed worse. The deepest shadows displayed ugly banding. I returned the unit for a replacement which I considered better but still not entirely satisfactory. The chief advantages of the 5D were the flow-on effects of the larger sensor with substantially greater pixel count.
At same image or print size as the 20D there seemed to be better color, lower noise, better tonal range and of course higher resolution at big print sizes and as a consequence better DR at such print sizes.
Your point about the engineering specification for DR having little to do with the perception of DR in the photograph seems only partly true to me. The question that should be asked is; is there any reason why such so-called engineering specifications (as in DXO figures) are not valid for the purpose of comparison? I mean, we're not talking about the sensor manufacturer's engineering specification for the sensor itself, unattached to a camera.
The remarkable thing about DXO results for the D3X is that it is claimed the D3X has 1 & 1/3rd stops higher DR than the P65+ at the pixel level. The D3X pixel is exactly the same size as the P65+ pixel, yet Nikon have employed such advanced technology that their pixel, despite its probably having the disadvantage of a smaller photon-collecting diode and therefore able to collect less light, actually has a higher DR.
The actual figure that DXO specify, 12.84 EV, might be unrealistically high from the perspective of the photographer and the viewer. The image detail and quality in that 13th stop might be be just awful and totally useless, and would therefore normally be clipped to black during processing, except in artistic shots like this which attempts to turn the ugly banding of the 5D into beauty; an accident when the flash did not fire.
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However, for the purposes of comparison, one would examine the degree of awfulness in that 13th stop. According to DXO, the P65+ image (of identical scene and lighting of course) would be even more awful in the 13th stop than the D3X, and no doubt more awful in the 12th and 11th stop.
The question then becomes, at what stop is the detail and quality useful so that it could be preserved in the print instead of being clipped to black? Perhaps in the 9th stop? Real world comparisons should examine such issues. The fact that the D3X pixel is the same size as the P65+ pixel makes such comparisons very easy. I'm really surprised no-one's taken the trouble to compare the D3X with the P65+, at the pixel level, to either confirm or refute the DXO claims.
Because the pixel size is the same, all one has to do is use the same focal length of lens on both cameras, shoot the same 'high SBR' scene with the same lighting, from the same position, and then crop the P65+ image to the same FOV as the D3X image (and same aspect ratio). Both images will then have the same file size and be comprisied of the same number of pixels. DR comparison would be easy, provided the exposures are correct with regard to ETTR. What could be easier! There even no need to adjust f stop for equal DoF, always a contentious issue.
Okay! Okay! Lens flare. I must confess that I didn't realise that lens flare could be such a limiting factor on DR. We've all experienced the annoying effects of lens flare when the camera angle is too close to the direct rays of the sun, but the fact that lens flare may reduce DR when the sun isn't even in sight, should be a factor taken into consideration when comparing the DR of different format cameras that use different lenses.
In the light of such information provided in the other current thread on this issue (Dynamice Range and DXO), it would seem that any thorough comparison between the D3X and P65+ should first examine the flare characteristics of the lenses used with both cameras.
I've long been an advocate of specific lens testing by the manufacturer (or contractor) of each lens sold, because we all know that lens quality variability amongst copies of the same model of lens is an issue. I would now add a further requirement for a 'flare test' of such individual lens copies.