Okay so for those who guessing which is which.
A: DP2M Test Process, yes I tried out the test process on Merrill files to make sure for sanity checking.
B: DP2Q Test Process then downsized nearest neighbor to match Merrill output. As some have noted black pixel artifacts in the test process I think those are actually dead pixels which are not mapped out of the RAW data, and would normally be handled by SPP post processing.
C: DP2M SPP 5.5.3 Output with lowest settings of NR/Sharpening.
Some observations:
-Native SPP contrast curves of DP2Q and DP2M are different but you can attempt to match them.
-Lowest sharpening setting of SPP actually still sharpens Merrill output.
-Shadows of Quattro files have more color, even at base ISO.
-Quattro files seem to have a tad more luminance noise even at base ISO.
-SPP 6.0.5 and earlier introduce a slight sub-pixel level blurring by the current SPP algorithm. The effect is so subtle I thought I was imaging it. So I am rewriting this sub-headline observation with a more concrete example. The effect seems to shave off the peak intensity of highlights, so it may be partly contrast curve issue but it may be an interpolation issue. Capture sharpening and clarity applied to an SPP exported tiff do not recover the slight sub-pixel level blurring introduced by the current SPP algorithm. Below is a example using raw X3f luminance data in comparison to the SPP 6.0.5 output, both images have received the same two-step smart sharpening (55% Radius 0.8, then 52% Radius 0.3) set to lens blur. You can also see in the image below the interpolation issue most clearly on a man-made object.
Some wishlist items:
-Would be nice if Sigma will release a Merrill rendering mode for the Q with both contrast and color matching.
-Would be nice if Sigma fully optimizes SPP to extract every last bit resolution from their raw files.