I understand sensor dynamic range reduces with increase in DSLR ISO speed.
I am interested in knowing more on this subject when shooting in RAW format, and how noise and dynamic range can be weighed against each other. ( under short exposure times )
For example, I read an article claiming it better to set a low ISO speed and to underexpose then recover shadows in raw post processing, as an alternative to increasing ISO speed to obtain a normal exposure level and faster shutter speed. The former minimising noise and max'ing DR, whilst the later causing noise and limiting dynamic range.
Can this work? Are there any drawbacks? Is there any rule of thumb like drop -0.5 EV for each doubling of ISO?