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Doesn't film stack most of its dynamic range above middle gray? Not really being a low light performer, there can be like twice as much DR above middle gray as below, can there not?
I know digital cameras have surpassed film in terms of total captured dynamic range. However, if you grab some ASA 500 film stock, rate any RED at ISO 500, and shoot the same daylight scene, you're going to get much more highlight detail from the film.
If the goal is to have the equivalent latitude or more above and below middle gray than film, because film and digital are different mediums, you would rate digital to the approximate ISO that you would expose film to a similar scale.
You decide what middle gray is, I'm talking mainly about measured dynamic range. ISO 500 Digital versus ASA 500 isn't going to give you the best from digital for instance.
That said, due to digital being cleaner at higher sensitives you get away with a higher ISO value when exposing in comparison to film.
My advice if you are shooting Monstro, swing around ISO 800-1280, again maybe ISO 1600 on the Standard OLPF.
Oddly, at 400-500 ISO on Monstro you do have what you are looking for anyways if metering correctly.
Film doesn't win overexposure tests. People like the way film looks when it clips, but once data (i.e. the medium isn't capturing anything) is crushed or clipped, it's gone. There's no magical fairly dust in there to reveal anything found in the noise floor or clipped highlights other than a phantom ghost of what channel clipped last when it did. What happens to color rolling off into highlight mainly is a property of color science and you have to make a general choice of what things look like. Since most of us like somewhat of a print film aesthetic I think this largely influenced the look as the medium adheres to that theme, similar to even printing on paper optically. Short of LSD, you don't want one level of saturation at all times, that's super weird. I think it's interesting because my last chat with Yedlin surrounded throwing away standard workflows and developing your own from the ground up, which provides a deeper understanding of how you can use the captured image information. Tuning every aspect of the image to produce a result through a unique pipeline you create. It's a fun process, time consuming, but a nice exercise in what I would call full digital development of a given capture system.
I think I'll write something up likely for the last time with the side by sides to make this clearer, but film was what I primarily worked with intimately for the first decade of my career as digital was poking into the field. The 2nd decade of my career is where digital really made strides which is why it was so hot to test it's viability in comparison to film's expense, technical merit, and processing time related issues. From about 2012 on, it's been a landslide of people navigating away from film and RED played a fairly big role in this around that time as Dragon was one of the main cameras to test against. You'll notice that a whole bunch of "film peeps" also navigated to shooting on RED for the first time around then as well. It really was that stark once you saw the comparisons in a theater or suite. i have a few pressing matters, but I even got some stock in the fridge leftover, might fun to bang on this old dead horse one last time.