Interesting, today I just fall on a quick Nuke tutorial that precisely talks about that.
Let's assume that the footage is in linear colorspace,
When you pass the mouse over the white that appears really without info, you notice that the RGB values where in fact moving and telling that there were hiddeen informations on those blowned highlights,
Actually the guy in Nuke, just with the color correct tools, recuperated a full information, exactly as you would see in the stills version, and it wasn't Raw.
I'm sure that Resolve would do wonders because it's highly specialized.
I think that those high-end softwares are really key in the chain. (I saw a guy in Nuke actually erased a motorcycle and road sign on a moving footage in less than 1 minute with zero painfull procedure and you couldn't see anything at all).
I think that we should consider those post-prod softwares fully part of the set, in the sense that they are almost like part of the cameras performance. I mean the recuperated footage was white, completly blowned, but there where in fact infos in it that could be recuperate in a few seconds.
And also, I'm not far from thinking that the Cooter's PS use in motion is not a bad idea at all. Using scripts (I tried it today) we can automatize all the color corrections frame by frame. Honestly, when Coot came with this in the forum I was kind of sceptical but now I'm less and less and it's a worth path to explore (and explode the HDs). Just treat one image as a still in PS and apply with scripts all the circus in batch. As we are in low res for PS it's pretty fast.
Let's work, let's work. We'll get it !
ps for Chris: But just a question, this blown window could it be recuperated in Red CineX ?
ps2 for Chris erased ps 1 : Chris, I think I get it all wrong and things are reversed, it's late after a long day, could it be that the blowned windows was the P65 ? so the Red DR is impressive. (my mistake came that the Arca Rm3D is almost like R3D and I was sure that the bottom was the Red...mmm I need some rest)