@gadolf has a lot of good questions in his PlayRaws and PMs. Thought it would be a good idea to start a thread for him to ask to his heart’s content 
. I will attempt to answer his lastest questions.
In terms of exporting for enfuse to process, I would recommend that you clip both types of values. enfuse doesn’t appear to handle them well. Try it (not clipping either or both) and see what happens.
In terms of exporting for enfuse to process, it does not matter if you clip the highlights as long as there are exposure outputs that contain the highlight information. Then it is up to how you setup enfuse’s many parameters, which determine which pixels you value more or want to discard.
In general processing, clipping highlights is a matter of artistic taste. In scene-referred imagery, clipping is the only logical path. Some would say that soft-clipping is fine but I don’t know what those who use OCIO workflows would say about that. Internally, some raw processors would keep the clipped data. However, you would need to verify which ones do that, if that is your concern.