Unless you're talking about exr, i don't think that saving in 16 bit will give you any advantage on highlight recovery, than saving in 8 bits. It still clamps dynamic range at 0-1. Yes, it has a lot more information in that range, but anything that is beyond it, is unrecoverably lost. It just no match to 32 bit imagery at all.
No, I don't mean half-floating ('16bit') .exr, but that is the mode I save to save harddrive space :- ) I meant changing the mode in PS from 32bit to 16bit. Here is what I believe happens from my experiments:
Everything inside regular Photoshop environment get's clamped (0-1), the tools (exposure,etc..) can't access any dynamic range but unless you used the tonemapping mode the information shouldn't be lost. It's should be similar as saving .raw files (.nef,etc..) as 16bit tiffs and using that format for post.
But I don't argue it's anything similar to linear compositing and post. But it does allow for highlight recovery through its tonemapping tools (ACR only).
Edit: Honestly now I am not sure anymore. But one interesting solution to our problem could be corona .crx format that behaved like .raw files. Raw files are just 12-14bit mostly, Hasselblad recently did 16bit, but it's linear format internally with embedded curve (could be regular sRGB gamma curve like we use in rendering). But AdobeCameraRaw can read it normally.
16bit .exr isn't the same as Photoshop and other applications see it as regular 32bit file.
Or even better, saving to .dng directly.
« Last Edit: 2017-05-10, 11:47:22 by Juraj_Talcik »

Logged
Please follow my new
Instagram for latest projects, tips&tricks, short video tutorials and free models
Behance Probably best updated portfolio of my work
lysfaere.com Please check the new stuff!