I have taken two shots with my Nikon D80 + 50mm lens. Each at f6.3 and 1/40s, but one at ISO 400 and the other at ISO 3200. The ISO 3200 shot was correctly exposed, and the ISO 400 shot was increased by 3 stops via ACR. For the purpose of this thread I will not label the following images, but there is full exif data available if you feel an urge
Maybe it will become immediately obvious, maybe not. Personally, I find it hard to tell the difference. I guess my question is this: why should I even bother with high ISO's if it just clipps highlights? I am actually quite disappointed after doing this test as I think back on certain occasions when I accidentally overexposed during high-ISO night events. Why not just shoot between 100-800 and just fix in ACR accordingly?
However, this may not be a completely fair test. On DXOMark, the SNR 18% graph of the Nikon D80 has a fairly harsh downward curve as compared to other cameras. This evidence is very much in accordance with my test, but shows that my philosophy does not hold with other cameras, especially those shown to have a linear db ISO relationship in their SNR 18% graphs. After all, this is just one test and two images.