I can't find anything googling for an AK4242 chip... anyone have a link to the spec sheet? I'm assuming it's the ADC chip that converts the analog signal into digital in the Canon DSLRs.
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Case 1: You have a file that clips at 0 dBFS in your NLE. You adjust the gain down in your NLE (digitally) by 6 dB. Now the signal clips at -6dB. The signal in the original file didn't gain any headroom, because it was already clipped.
It doesn't really make sense to me to say you have a
file that clips... the signal the file was recorded from may have been clipped in order to fit into the gain range of the file, but once the signal is in the file it is what it is... clipping is a verb not a noun. A file is a static thing not a process. You could say the file is clipped, but not that it clips.
The reason I mention this is I want to clarify that the situation you are talking about where a clipped file opened in an NLE cannot be restored to unclipped is a completely different situation from what I was talking about when I mentioned NLE clipping behavior. I was referring to the situation where a full range signal with peak at 0dBFS will get clipped if NLE gain is increased, and will gain headroom if NLE gain is decreased.
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Case 2: You have a signal in the AK4242 chip that clips. You reduce the digital gain in the AGC circuit by 6dB. The signal gain is now reduced, but it doesn't clip at -6dB. The signal excursions still go all the way to 0 dBFS. Adjust it down far enough, and the signal no longer clips.
When you say you have a signal in the AK4242 that clips, I assume you mean that you feed an unclipped signal into the AK4242 (say peaking at -10dBFS) and the digital gain causes clipping at the digital output of the chip. The fact that you can stop this clipping by reducing the digital gain is just good chip design... if it didn't work this way then I would consider that a chip design fail.
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So, even though the AK4242 chip adjusts the gain digitally, it has additional bits of headroom built in. In essence, it works like an analog gain control.
Like an analog gain control, you get clipping when the input signal times gain exceeds the output signal max level. All properly designed non-buggy digital gains should work this way... the only difference between digital and analog gain is that digital gain increases the internal preamp noise by the same number of dB as the signal noise, while analog gain increases the signal more than it increases the level of the preamp noise.
Sorry for being so wordy about this... to summarize this post, I think ML digital clipping behaves exactly like an NLE in that a full range analog signal with peak at 0dBFS will get clipped if NLE/ML gain is increased, and will gain headroom if NLE/ML gain is decreased.