Last week I finally upgraded to Lightroom 4.1. (I hesitated for a while because in Ukraine Lightroom 4 is, for some obscure reason, more expensive than in other countries.) What can I say? It is a great piece of software and probably the best RAW converter I have ever seen. What actually strikes me most is its ability to recover both clipped highlights and crushed shadows. Lightroom 3/ACR6 already was the best RAW converter in this regard, but Lightroom 4 is much better. One small example... As you can see, originally this picture had a noticeable clipping in the sky. This is the best I could get in Lightroom 3: And this is how the clipped area looks in Lightroom 4 with default settings. The difference is striking, isn't it? So, what's going on? Analyzing the RAW file with RawDigger shows that both blue and green channel are actually clipped: I think Lightroom 4 recovers luminance information using the remaining (red) channel and then tries to guess the color of the clipped area by analyzing adjacent areas. Strictly speaking, this 'guesswork' does not produce technically correct result, but it looks visually pleasing. Before upgrading to Lightroom 4, I had minor complaints about highlight headroom of my camera (the venerable Panasonic GH2). Now? I don't know, I may even cancel my OM-D preorder.