Michele Gavazzeni
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Maybe Mr. Jannard could directly answer to this without letting us speculating.
Here is a previous post by Graeme
Here is a the post by Jannard (build 16...taste)
Now its confusing me....
Here is a previous post by Graeme
Changing ISO is really changing where you place, in the range of 0-4095 code values, where mid grey goes. ISO100 will put the mid grey high up that range, and hence, there are few code values left for highlights. You are essentially trading less highlight lattitude for more shadow lattitude (ie, a noise free image). However, if there are shadows in that scene, you'll be able to dig further into them.
If you go to a higher ISO, you start adding highlight lattitude for noise / shadow lattitude. Say you now go up two stops to ISO400. Now you've gained two stops more highlight lattitude, but you've lost two stops on how deep you can dig into the shadows.
Graeme
Here is a the post by Jannard (build 16...taste)
Build 16 now lets you use slower ISOs with no penalty.
Now its confusing me....