Hi,
It is very simple, optimal capture is where as many photons as possible are collected, without clipping any channel.
The reason is simply that shot noise is minimised at maximum exposure, or more correctly Signal/Noise ratio is maximised with maximum possible exposures.
The issue is a bit muddled when we leave base ISO, as readout noise may be lower on some sensors at higher ISO. Other muddling factors are that raw converters cheat a lot with histograms. Lightroom always seems to do some highlight compression and can be quite cavalier about highlight recovery. Capture One's "film curve" makes an ETTR image look horribly overexposed and the histogram goes with it. :-) We may ask Adobe and Capture one for correct raw histograms before asking camera vendors. :-)
Personally, I used to use a spot meter in film times. With slide film I exposed for the highlights and with B&W film I exposed for the shadows. The idea with the zone system was that exposure and development were interrelated. So, processing was taken into account at exposure and different processing was applied to individual exposures.
With digital all this makes little sense. Expose ETTR, or for mid tones if concerned about hue twists. Once capture has been made, we can apply any kind of processing.
Using a spot meter can be useful for finding optimal exposure. Personally I stopped spot metering a couple of weeks after going into digital. With film I still use the spot meter, as the film back has no histogram.
Best regards
Erik
Yes, I agree, of course it will. ETTR is just optimal exposure. The exposure is either such it produces optimal data or it isn’t and there are degrees in which sub optimal data affects our work. Now what the comment might imply is that less than optimal exposure (ETTR) will produce results no one can see and that I suppose is possible. This is much like the use of editing in high bit (16-bit) because we know rounding errors could, possibly result in data loss that is visible at some point on some output devices. It might not. But why take the chance?