I think this very recent article I just found starts to hint at the capability I've been asking/guessing about. A good read.
seems like good news for broadcasts and also seems to hint that real time processing could provide an enjoyable 'upscale' experience.
Good find - thanks. From the article you found:
"Technicolor is doing some on-the-fly processing to incoming content in realtime to pull out extra dynamic range and color. Again, no change in broadcast standard required for this and that’s the key. While there’s some danger that artistic intent will be altered with this approach, the demos I saw looked great. Skin tones and memory colors were kept in check while still taking advantage of the extra saturation offered by a wide color gamut display."
So yes, this seems to be an enhancement of standard incoming content to take advantage of an HDR-capable panel to display an enhanced image (what Dr. Shankenstein was referring to).
"With it’s new Dolby Vision technology, Dolby has created essentially a new standard that uses a layer of metadata on top of today’s broadcast standard to deliver wider gamut and dynamic range with the content creator’s intentions intact. "
Seems to be related but a bit different - sounds like Dolby is going to work with the broadcaster to add additional meta data into a broadcast that can then be decoded and used by an HDR-capable display to present an enhanced image. I suppose all of the processing could be done within the display on standard content, but it sounds like the up-front/metadata part must be pretty involved, since Dolby is focused on doing that with the broadcaster rather than in the TV...
In any case, it all supports my theme that it is very likely that TVs with this capability will end up finding ways to display enhanced images from standard video source before new HDR content becomes ubiquitous...
p.s. and yes, your understand of my p.s. is largely correct - actual capability is still unknown (though now we know that both Dolby and Technicolor are working on it - thanks to you )