I was sceptical at first and now use it as pert of my standard styles.
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basecurve can do the job, but it’s not easy to adjust manually (as noted by Johnny-Bit). So I would make an adjustment in exposure to fill the spectrum to the right edge, apply my standard basecurve, and fix the rest in tonecurve. For what it’s worth, when I had barely to touch tonecurve, the results were very good (technically), but sometimes the best photos are not the ones which are technically spot-on.
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filmic RGB being parametric, I can easily fiddle it a bit to take account of the lighting. I then still use tonecurve, but usually for much smaller corrections, and the final result seems better.
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Although tonecurve is not supposed to play well with filmic RGB, I’ve not had any problems. There may be if you still have a version from before the power-norm bug was fixed, although in B&W this really didn’t matter.
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I still don’t use tone equaliser. I can see the advantages if you want to make a sort of global lighting adjustment. Maybe combined with masks it could do interesting things, but I’m very sensitive to inconsistencies of ligh across the frame. Conversely, tonecurve allows me to make relatively sudden changes in contrast to pick out, for eg, features of a face in shade. I needed to be convinced to invest the time to learn to like filmic RGB, it may happen that I’ll take up tone equaliser one day. These thoughts remain valid only until I close this window