Stu Maschwitz has a in-depth post up where he talks about the latitude of current Digital Cinema cameras, and how the Rec709 colorspace (i.e. video) handles highlights vs film’s highlight handling. Where it gets sticky is how a clipped highlight in video maps to the highlights on film. If you are shooting with the Red One or another such camera and wish to output to film at some point, this is a must-read. Short on time? Read the compact summary. Here’s an excerpt:

“Shooting with RED One and monitoring Rec709, if you put 18% gray at 45% IRE, you’ll capture 2 stops over 18% gray, plus some headroom.
Want to match Panalog? Underexpose by 3 stops for 5 stops over 18% gray, plus headroom.”

For more experiences with the Red One from the field, read this Studio Daily article on the production of 3 Days Gone. Two interesting notes…they used a P2 recorder on set to capture and review dailies, and ProRes proxies of the 4K footage for editing.