Not sure what Ray meant by sky coverage as the 694 sensor is much less than 1/2 the size of the 11002.
There is one point perhaps taken into account with your sensitivity formula and that is a larger sensor collects more light than a smaller one.
Well known in digital cameras. A full frame (35mm sized sensor) DSLR always performs better than a smaller APSc or smaller sensor for nightscapes etc. Its just simply the larger collecting areas. Even more true for CCDs where there aren't really large spaces between pixels like CMOS does.
Greg.
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