Premiere currently assumes/reads the data levels from the file itself and maps it to the internal full range without clipping if I'm correct. However sometimes we need/want manual control over how to interpret the footage.
I'd like to see an option in the interpretation settings where we can flag a file as either Full or Video range where Auto is the default.
Would also love proper export options. Choosing between Full/Video range and conversion between them with clip/perserve options so we can better manage how the data goes out into a file.