To resume, please correct me if I'm wrong.
10 bits in adquisition - 10 bits workflow in post
8 bits in adquisition- 8 bits workflow in post, 10 bits added in intermediate codec won't change anything and image will fall apart the same way. Unless alpha is needed 10 bits on-line from a 8 bits material is pointless.
Ps: a colorfull post.
Not in the real world.
A few years ago we had some "challanged footage" from a shoot in Jamica featuring a sports celeb.
Light changed, the camera operator shot it under, the subjects were dark complexion and all I had were silouettes.
I tried to open it up in FCP with filters, Apple Color, in an Avid System, all with the same results. Track noise, blown out BG, etc.
Then finally went to a Di-Vinci suite (the old one the size of a large room, where a top rate motion picture colorists put the tapes (captured in 8 bit) into the 12 bit di-vinci and she opened it up, colored it, corrected it and tracked it with no problem, in fact it was almost pretty, which was a heck of a leap considering it was non usable before.
So to be honest at that point I didn't care if it was faux 12 bit, real 12 bit, I just cared that it worked which it did, I got paid, life went on.
P.S. On the session mentioned the operator I used was skilled and had a great resume, but back then High Def was limited to a few cameras. We used a rented Canon XL series and a PS technique adapter and a rented clamshell monitor. When he shot, something looked funky in the evf and the monitor and I yelled cut. I went back played the tapes and just didn't trust what I was seeing. I told the operator/dp to yank the high def, put my trusted xl1 on the dolly and shoot with it, because I knew the evf was dead on with that camera. He resisted, he held his ground, he told me it was fine, but in my gut I knew it was off.
That not trust my gut cost me 7 grand in correction and I learned a huge lesson.
#1 either own your own equipment or test everything first (in a computer).
#2 Always trust your gut.
#3 Don't let a group of 15 clients and a difficult subject hurry you into a mistake.