Prefer Process Version 2 in some cases

[EsTaF]

Just recently I came across a lesson by Pavel Kosenko, who suggested using v2 cc one and I was very surprised at its work. 
Switch to that mode and reset the brightness and contrast settings to 0. Also, if necessary, change the exposure and fill light one.
It’s very strange, but the lights in this mode are pulled out much more elegantly. Its don’t seem to flatten into any one color if it have predominates.
And, by the way, even if you develop photographs not with the help of ACR/Ligntroom, but with the one of any program based on the libraw engine, then such a result will not be far from ACR/Ligntroom with the V3+ cc process. - a color either collapses in the highlights into one, or a certain banding appears into a white spot.
With contrast in the lights, the same strange story is with any engines, except for the cc process with version 2.
I’m not advocating the old (2) cc version, but I just want to understand the reason why acr' architects left it.

[JohanElzenga]

Did you try the 'Refine Sat' slider in Curves? If you set this slider to zero, then the main curve only changes the luminosity and does not affect color.

[EsTaF]

I understood you. Yes, I use this technique sometimes.

[EsTaF]

If you use several curves, then the option is interesting. Sometimes I use this option. It can adjust saturation in different ranges of light - a kind of “sat vs lum” if combined with other tools for working with light.

[Conrad_C]

Note that significant improvements to shadow detail, highlight recovery, and tone mapping, based on academic imaging research involving Adobe, were introduced in Process Version 2012 (version 3). In part, these changes made it much easier to handle HDR merges.