A few years ago I ran across an interesting (to me) article on the dual gain on the D850 and ISO invariance. After reading it and reviewing all of the samples, I came away with the following conclusion (which might be the conclusion from the article, I don't remember, I just have these conclusions in my notes file ... ). While most probably know this, just in case - the D850's extra gain starts at ISO400 whereas the Z9 is at ISO500, so adjust the directions accordingly.
- If that ISO is 64 or as much as one stop over, set the ISO to 64 and make the exposure. If that ISO is 400 or as much as three stops over, set the ISO to 400 and make the exposure. As you crank the ISO incrementally up from 64 or 400, you’ll get less highlight protection, and it won’t gain you anything significant in shadow noise.
- If that ISO is between 160 and 250, decide if you need the last bit of shadow signal-to-noise ratio (SNR). If you don’t, set the ISO to 160, take the shot, and get some extra highlight protection.
- If that ISO is 320, decide if you could do with bit less highlight protection. If no, set the ISO to 320. If yes, set it to 400 and enjoy lower super-deep-shadow SNR.
- If that ISO is between 400 and 2500, and you think you’ve got the highlights handled, set the ISO to 400, and use that exposure. This will produce images that are, by conventional metering standards, more and more “underexposured” as the metered ISO rises.
- If that ISO is over 3200, set the ISO setting to three stops under the metered ISO. Three stops of extra highlight protection should be enough for almost any scene, and pushing too much in postproduction can cause some color shifts.
For me, preserving highlights has often been high on my list and for at least 20 years I've tended to underexpose most of my shots by at least -0.7 and pushed them in post.
I generally have mostly followed these guidelines with my D850, though often I follow a slightly more simplified version and largely just focus on using ISO64 and ISO400. The only issue I've run into with this strategy is that reviewing the photos on the camera is a little more difficult.
With the Z9, I've tended not to follow these quite as much, mostly due to the EVF. I like the WYSIWYG, but if I am set for underexposing too much, then it gets hard to view in the EVF and I believe may also impact the AF. So I'm back to mostly letting the ISO float, but often with a -0.7 (or more, depending on the scene) exposure compensation. Stressing too much about incremental differences in the ISO300-ISO500 range hasn't seemed worth it to me, at least when dealing with moving/dynamic scenes.
Landscapes on the other hand .... I primarily use either ISO64 or ISO500 and I aim for "expose to the right" exposure settings. And somewhat ironically, I really love the Z9's 20FPS when doing landscapes because I almost always do a 5 shot bracket. I figure bits are free, and it's worth getting just the right exposure levels. With the 20FPS, the shots are so close together, that I can comfortably pick any of the 5 shots to work up in post, or I can pick several or all of them and do an HDR composite, even if the scene isn't entirely static.