I saw someone on here mention using linear gamma in resolve, so I gave it a shot, and IT ROCKS.
I loaded up a video I did last year when I was first playing with reduced gain, and for the first time, I was able to get things looking right.
This video was not shot to be nice looking. It was a series of tests of extreme conditions to determine the limits of the camera with reduced gain. The whole thing was shot using iso 200 dropped to approximately 109. For example, the only light in the entire video is a single kitchen light bulb in the opening segment which was shot before sunrise. Extremely harsh and bad lighting in a dim area with just enough cold blue light from outside to make it look really ugly. And yet, it looks pretty good!
The shot of the paddle in the water was in full sun at noon, directly overhead. This shot, and the melting icicle, puts to rest any false notion that you can't get good highlights with gain reduction. You have to expose for it, and the clean shadows means you can lift them way up.
It also means you have to do serious grading to do this while looking natural. Linear gamma did the trick. It required a very strong inverse log curve, something you could never get away with in any other situation...
There's NO noise reduction used in any of this footage, including chroma.
After I completed this, I loaded up the same footage in mlvapp and made a similar crazy curve in linear mode, and it looks excellent!
The only thing lacking from mlvapp to prevent me from getting the same results is the lack of curves for "lum vs sat" and "sat vs sat". Those, plus nodes, and mlvapp is ready for anything...
PS: If gain reduction was used for the "dark" iso in dual iso (e.g. 800), it would be even better with absolutely noise-free shadows. In testing I have done for the last couple of days, I am finding that for some scenes, iso 109 still wins. Dual iso always wins for extreme dynamic range scenes, so I will be using both from now on as needed. It would just be nice to have even cleaner "ultra dark" details with dual iso.
vimeo forced me to convert rgb to rec709 so it's not 100% accurate colour, but it's extremely close.