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| p.1 #3 · Once you leave Camera Raw...... |
Without the smart object approach you would only have what is in the .psd file, which might be 16 bit data or 8 bit data, etc. So long as the most severe corrections have been done in ACR the post-ACR file would be quite manageable but you will not be able to recover from ACR cropping. The smart object approach will let you go back to your old raw files when a new ACR process engine comes along and re-do or edit the post-ACR changes that you made with the older process engine, without having to start from scratch.