Frank, that all seems to make sense to me. So far, I think I'm happy with the quality I get from 4x5, not a spot of grain on a 20" print. Scanned on my V700 too. I don't doubt I could do better, but it's certainly enough for me.
I think the most obvious reason for MFDB would be the bit depth difference, which in my opinion marks a separation between lousy and good digital B&W. The best digital B&W shots I've seen around were made with Leica S2, and I imagine other MFDB will be good as well.
BTW, has anybody tried the B&W only MFDB from Phase One?
FWIW, and web-scaled photos cannot adequately represent the quality, there are two RFF members with posted Leica S2 pics in the Gallery, labeled for search. Do either the Basic or Advanced Search, choose Leica Camera AG on the Brand drop-down menu, and then scroll way down the Model menu and choose S2. There are three pages of photos to browse. 🙂
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