Originally Posted by
DanK
I hate to weigh in at this point, after all the detailed discussion, but I actually think this can be simplified. Let me try:
1. Moving the histogram to the right increases the S/N ratio. That is often a good thing to do, but it is not always costless.
2. Whether one wants to move it, and how far, is a matter of judgment.
3. One factor that ought to influence #2 is how bad noise is likely to be if you don't shift the histogram. That will depend on a bunch of things, but in particular, the camera body, the ISO, and how much of the histogram is far to the left.
E.g., Colin, your case is low noise (base ISO, good camera, studio lighting), mass in the midtones, and concern with rendering of the midtones, right? So you don't shift. In other cases, noise in the shadows may be a big deal, and shifting makes sense. And, of course, if the histogram shows that the image subsumes most of the dynamic range of the sensor, you can pretty much forget about it unless you intend to combine exposures.
Re camera bodies: I have two, a 50D and a 5D3. The 50D is a much noisier camera, so I worry much less about the location of the histogram with the 5D3, particularly at low ISOs and when the mass of the histogram is not too far down from the right. Consistent with what Colin says, with the 5D3 under good lighting conditions, being somewhat below the top of the histogram doesn't seem to make much if any practical difference. But that is exactly when it shouldn't.
I don't personally care whether people use ETTR to mean "shift to the right" or "shift all the way to the right," except that people may need to clarify their use just to communicate.
For the great bulk of the photography I do, I don't think it needs to be any more complicated than this.
Am I missing something?