I see how my photography analogy fell apart due to the complexities that differ between the two technologies. The intent of my first post was merely to share my experiences with different sensitivity microphones through the FR-AV2. After reading through this thread again, there is definitely a "set and forget" camp standing strongly behind 32bit float as the answer to that need.
Here is what I know. Max input specs on recorders are based on gain set to minimum. If you use a hot mic, 10mv/pa to 15mv/pa, you will have to turn the gain down all the way at a rock show. No control of balance, and no real sense of headroom. However, if you run a low sensitivity condenser or a dynamic microphone and are able to apply -any- gain, you know that your input levels are unlikely to push past the +4 threshold. So it doesn't matter if the gain is analog, digital, or a combination, being able to add 15-20db of gain tells you the incoming signal from the mic has near zero chance of overloading the recorder mic inputs. It also doesn't matter if you are running 24bit or 32bit, the benefits of having more control are the same. One thing I have learned over the years with recorders is they all have an optimal gain level. I think the optimal level for this recorder is revealed by the +18db factory default gain setting. The thing that's great about this recorder is it's broad feature set and applicability across wide array of uses and users.