Thanks for all this info, Frank! This is great - even if not exactly, but it does answer my question from last October. If nothing else, it will make me try V5 to see how exactly it has changed.
Why am I interested? Let me explain that with my favourite example between analogue tape & CD.
Test1: What is the dynamic range for tape? OK, now record something 1 dB below the noise floor derived from that dynamic range, and listen back. What do you hear?
Test2: What is the dynamic range of a CD? Without dithering, record sometthing 1 dB below the noise floor of that dynamic range. Listening back will reveal clearly why a 114 dB analogue preamp might still deserve a (theoretically) 144 dB converter.
It is a shame we're not given the control to decide what to do with those 8 bits, but I'm fine with that. My desk sounds very good to me for the money!