Everyone talks about noise at high ISO but its the loss of dynamic range that's important
you can deal with noise but if the colours are not there you can't put them back
Having trouble explaining what I mean but if I go from ISO 800 to 3200 on a shot of a tiger for example the one at 800 looks nicer and it is not the noise that's the problem
Also if the light is not nice , eg you are in shadows it will never look the same even if the camera has a magic sensor
Quite right
what we are talking about is light (photons). If there are not enough of them
you can't be invented them, the result is inevitably a degraded image.
Of course in the right context that is not a problem.. you do not expect shadows to contain bright colours. so the image looks right.
However in an under exposed image (one where there are too few photons to make up any of the tones fully) the whole image looks degraded.
Exactly the same result is obtained if the the illumination of the subject is too low or the Shutter speed and aperture did not pass enough enough photons to the sensor.
visible Noise is the result of under exposure , Noise is there in every exposure, but it is too small a proportion of the whole in well exposed shots to be noticeable.
The ISO is a red herring for your Tiger example
At ISO 800 it might be telling you to set 1/500 at f4 so at ISO 3200 you would set say 1/000 at f5.6 ( two stops difference.)
The sensor is then under exposed by two stops. But because the firmware knows that you have set ISO3200 it adjusts the output curve to compensate.
The sensor has still received two stops under exposure and you get all the consequences that go with that, lack of saturation and extra noise. The firmware kicks in and does it best to improve the situation by increasing the brightness and contrast and removing noise.
If you are shooting Raw the raw developer does most of this after reading the instructions in the picture file. You then have the option to take these adjustments further.
The important thing to think about is these ISO settings do nothing at the sensor level, they are all later adjustments, either in firmware or during raw processing.
Modern sensors are becoming very good indeed and capture a greater range of tones than are needed in a normal situation (as much as five stops more in some cases) this means that in the best cameras little difference is shown in the results in a wide range of ISO settings as they are making use of the extra "Headroom"
They are making use of the full straight line of the Raw curve. To take full advantage of this happy state of affairs, you must always expose to the right Just avoiding clipping the highlights.
In our Future gazing we have suggested that sensors and this head room, will get even greater, and reach the point that they can encompass the full range of tones from moonlight of full sun. If that is the case and with in certain limits, it will not matter what shutter speed or aperture you set, you will still obtain an optimal exposure. At that point the concept of ISO is meaningless.