Hi
I used Bruce Fraser, shortly before he died, was taking this on and showing that jpegs have more info in them than originally believed.  When the new ACR came out in CS3 (?) allowing it to grab JPGs, the Recovery was saving some highlights previously thought lost.  Speculars are gone immediately.

Of course, Nikon, Canon, Sony and Olympus share some of the credit as they reduced blooming since the old days of D1/2 and the Canon Mark xxx.

Although I have never DL'd a card, put it back in the box and tried to compare Histograms against LR, PS or QI, I am guessing the cameras are not as accurate.  At the least tey are harder to eval in that 2.5-3" they give us.  The most I look for in the box is whether I am crunching either end or just bumping it.