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Yes!

But, if BTB and WTW is on the disc and clipped by the player (PS3 type clipping), depending on the display, you will not see what you should see if the data was not clipped. There is no way around it.
Depending on the surrounding video, some CRTs will display BTB data. Many digital displays (you can never say all) can display WTW video. Making reference white (235) the brightest your display can output is improper calibration in almost all cases. It is somewhat nitpicking, but it is also just describing what really can happen. And in the end, with the PS3, if they fixed the problem you probably wouldn't notice except when viewing test patterns.
I have compared movies using HDMI and component (clipped and not clipped) before and I couldn't see any difference. Of course in theory based on the content there could be a very large difference but in reality (to my mind) this isn't the issue many try to make it into.

I have compared movies using HDMI and component (clipped and not clipped) before and I couldn't see any difference. Of course in theory based on the content there could be a very large difference but in reality (to my mind) this isn't the issue many try to make it into.
If your source device is slightly "off" then your calibration is not correct wrt what you ultimately see. Some people prefer to calibrate a display to match a known good/precise source. I'm not in that camp. Because if your real source device is not like the test generator, then your calibrations are not correct. I prefer to calibrate against the source I intend to use and make the screen output correct as possible.
