Even DxOMark think otherwise....http://www.dxomark.com/Reviews/DxOMark-review-for-the-Leaf-Aptus-75s
That link says: "Our measurements show that the ISO Sensitivity settings of the camera are real (that is, all ISO Sensitivity settings are obtained by applying a gain, analog or digital, before RAW delivery) for the entire ISO Latitude range of 50 to 800."
Doesn't that mean that the Aptus 75s needlessly throws away up to 4 stops of overexposure headroom (DR) above base ISO? Why would Leaf have taken that decision?
Compare to DXoMark on the Hasselblad H3Dii-50 [and H3Dii-39]: "With respect to ISO sensitivity, the only real ISO provided is ISO 50 (measured sensitivity is 45). All other ISO values are obtained by applying a digital gain during the RAW-to-JPEG conversion, which is the same type of design as for the H3DII 39."
DxO then make the mistake of
extrapolating (their terminology) rather than measuring the Hasselblads' DR at higher-than-base ISOs, and they presume that it falls by 1 stop per ISO stop. This is incorrect. SNR will fall with ISO, just as they extrapolate, but there is no reason why DR will. The readout noise has not changed. The signal capacity of each pixel has not changed. For each stop of shadow detail lost, a stop of highlight detail is gained, moving below the saturation threshold. It doesn't matter whether the scene being photographed contains subject matter of that brightness or not. This is about sensor DR, not scene DR.
As for Phase One P45+: "ISO latitude ranges from ISO 50 to ISO 800, but measurements show that the only two first ISO values (50 and 100) are real, a digital gain is applied during RAW conversion from ISO 200 to ISO 800".
So it's interesting that for the most part P1 take the Hasselblad approach, except at ISO 100.
Again, "Curves and results for “non-real” ISO are extrapolated and shown with dotted lines on dxomark.com" for the P45+...so again their DR curve is wrong, above ISO 100.
The later PhaseOne backs (P65+, IQ180) take a sort of hybrid approach: at moderate ISOs up to ISO 200, you retain the DR and keep gaining the headroom, like the Hasselblads; but then at higher ISOs they lock that headroom gain in and let the DR shrink - "The Phase One P65’s ISO latitude in RAW shows a design change when compared to the previous Phase One model:, the latest P45+ provides only two real ISOs, ISO 50 and ISO 100; by contrast, the P65+ provides real ISO from 100 to 800 (in high resolution mode) and from 400 to 3200 (in Sensor Plus mode). ISO 50 (high resolution mode and ISO 200 (Sensor Plus mode) are obtained only by applying a digital gain during RAW conversion."
Ray