Pretty sure that is as close as makes no difference to the full production unit.
Thankfully, the only buttons and knobs you need to fiddle with are the record and stop buttons. Assuming it's been set up sensibly, everything else will take care of itself.... or so they claim!
And clever though the tech is, I doubt the performance would be significantly different in practice from just recording with a generous headroom margin on a current 24 bit machine. The overwhelming element that defines the recorded noise floor will be the acoustic noise into the mic, not the preamp/converter noise -- and by a massive margin.
When recording live action stuff with very wide and unpredictable dynamic ranges and high peak SPLs, I often just set the preamp gain very low so that the ambient noise level is around -60dBFS or so on my Nagra VI (or even lower if the expected peak noise is nearing painfully loud), and then let whatever happens, happen... Seems to get the job done with no fuss, no overloads, and no noise problems in post-production.
Who needs 32-bit float?