Three members who post here would be worth looking into. Timur Born, Trevor G and Kim Letkemann are all deeply conversant in the EXR sensor and processor of your X-S1, though they write from the perspective of the X10 which has the identical sensor and processor to yours. In condensed form, their advice is to shoot in M size, raw + jpeg, ISO 100, DR 400 for the best overall image characteristics. After a year of experimenting I find their advice to be spot-on. The Provia (standard) film simulation provides the best dynamic range, and very good color. Velvia and to a lesser extent, Astia settings compress the dynamic range somewhat (more clipping of highlights and deepest shadows.) though they both increase saturation and Astia is maximized for flesh tones. I would also mention a "bug" in the EXR DR in-camera software. It tends to overexpose by +0.66% or even +1.00%. A neighbor of mine has an X-S1 and finds this to be true. So I'd stay away from Auto EXR though its marketing hype makes it tempting. Please post some of your work, as you're getting acquainted with your X-S1!