Hi TidaLpHasE
A great exposition on ISO. Well done.
Just one point about digital ISO though. The sensor itself does not change its sensitivity. It responds to photons in the same way regardless of the ISO setting. Its actual sensitivity is a direct result of its quantum efficiency, which does not change with ISO. What the ISO setting does do is apply a gain to the signal that is read from the sensor to mimic sensitivity. The end result is exactly as you have so well described.
Cheers
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