I have an F800 and PDW700 and a 2- Fujinon HA18x7.6BERM-M58B lenses. I have tried both lenses On the 700 I can see no effect when we Switch the alac function on/off in the cameras maintenance menu. I have tried shooting metallic objects, varing degrees of overexposure, white backgrounds, over lighting and the ALAC just seems to have very little effect in cleaning up the images.
The f800 shows a minor bit of clean up but not much.
Oh well, I shoot soft lit interviews anyway usually @ F1.8 wide open and don't really need ALAC anyway.