RAW and Settings on OMD

I just took 4 identical exposures with the exception of using auto, normal, high and low key gradation, downloaded and opened all four raw files up in ACR/ Photoshop CS6 and they look identical.

I would expect a file shot using auto gradation to open in ACR underexposed compared to how it looked on the cameras LCD. The gradation setting only affects JPEG files. The reviews on the camera's LCD take all in-camera settings into account whether you are using raw or jpeg capture, so depending on your in-camera settings, the raw files may look nothing like how they looked on the back LCD.

Gradation is no different than setting black & white mode and shooting raw. The file opens on the cameras back LCD as B&W, but download and open it up in ACR and it is in color.

--
"There's shadows in life, baby.." Jack Horner- Boogie Nights