I’ll also have to bear in mind that both DT and LR do some automatic per-camera touchups upon import, too.
Right, that was the next thing on the tip of my tongue. 🙂
I’d be more inclined to trust DT’s histogram, because LR does a lot of things behind the scenes. Have you checked RawTherapee’s histogram to see how it compares?
I’ve heard of and observed a somewhat related problem with my Pentax cameras. The histogram on my camera is based off of the highly compressed JPG preview embedded in the actual RAW file. That means that “clipped highlights” that I see in the on-camera histogram aren’t actually clipped in the RAW file. Kind of annoying. 🙂