Lots of static on the forum from certain quarters … I have apparently not shot enough images to warrant my conclusions. So once more into the breach. Actually, I was asked about JPEG sharpness versus RAW sharpness, so I shot a definitive series of images to see about that. And the JPEGs that came from that shoot showed again that M4:3 JPEGs are 2EV brighter than L4:3 JPEGs … that’s just how it is …
You don’t even need to click through on these to see what is going on. The –2EV JPEG in M4:3 size pretty much matches the tonality of the L4:3 shot at 0EV …
Of course, this gives an advantage to the M size shooters, since the shutter is 4 times faster … not too shabby. The minor loss of sharpness is easily made up for in the improved tonality … DR400 being hardware assisted at 100 ISO …
I deem this conclusive that Fuji is doing so weird processing in that firmware.