Is ACR 8.3 really clipping the camera's gamut?

Question

I was wondering if anyone has noticed problems similar to observations posted at the DPreview micro-four-thirds forum.  The best post to the topic which seems to describe the problem best is by Timur Born.
Essentially, what is being observed are saturated colors (especially reds) that were once outside the sRGB /AdobeRGB gamut, now being inside the sRGB gamut (as evidenced by softproofing gamut warnings with respect to sRGB and AdobeRGB, as well as obvious color differences when DNG conversion is via 8.2 versus 8.3).  The observations are with respect to many of the newer Olympus cameras, and in this case the OMD E-M1 (which happens to be a camera I'm considering).  Is this affecting any other cameras?
Proper troubleshooting for knowing exactly where the problem lies is beyond me, but I do know this is not good news for E-M1 & Lr users.  Thoughts(?)

Answer 1

First of all: Thanks to Eric for chimming in and explaining the situation. Are the new profiles LUT based instead of matrix based now (and would that include the new Olympus picture mode profiles being LUT based)?
This is quite a *fundamental* change that should have been properly documented. Thus it would have spared us users the time and effort trying to find out what's going on. I remember another case where I found a change only documented in the *press release*, but not in the release notes. So please keep an eye on your release notes, especially if something changes as dramatical as the standard color profile.
I am surprised to learn that the old profiles could cause reds to be mapped outside of the already large PhotoRGB?! Is this what you mean by "clipping" intense colors? Saturated reds have been problematic in the past, so this improvement is generally very welcome. You should have published it as Beta, though, because there are several issues with the current implementation that may need further fine-tuning.
Some of my reds turn to rust/orange now. This is not only a problem of getting a starting point where reds look plain odd/wrong. This is a problem of the HSL picker identifying the same patch of my red wall as being *more* orange with the new E-M1 profile vs. the old E-M1 RC and E-M5 profiles. The latter means that I tested both cameras and all three profiles, using the HSL picker on the same point of my wall to pull down saturation. When red saturation reaches -100 then orange saturation reaches -68 with the new E-M1 profile, but only -54 with E-M1 RC and -55 with E-M5 (using an E-M5 image).
Same thing with only changing the Orange slider, it affects my red wall more with the new E-M1 profile than it did with the RC E-M1 and with the E-M5 profiles. On the other hand I noticed that my ocre (rather yellow) wall is affected *less* by the Orange slider now. So which profile do I trust more about the color of my wall and HSL slider behavior?
Just to mention it, personally I never implied that red is clipped to the sRGB primary. While it was reasonable to speculate this as one source of the issue I just observed and reported that the former over 50% out of gamut reds of my demonstration image are now almost completely (over 90%) within sRGB's red primary. And even while I understand why the new non-linearly compressed approach makes sense I still have my reservation about how it works in practice. An intense red wall should be shown as red, not rusty with clear orange tint.
PS to deejjjaaaa: Accusing other users of ill intent and pointing fingers while they only try to make sense of their working tools doesn't really help the discussion much. And using the camera calibration section to increase the red primary is *not* a solution, because it considerably affects saturation of yellow and orange, too.