What John Shaw suggest is to do a test to really determine what the correlation between when blinkies start and the actual clipped highlights in the RAW file.
I followed John Shaw's instructions and perform the test today and found out that I had one full stop of exposure available before the histogram In Camera Raw showed clipping. In fact, I went to 1 2/3 stops of exposure, and I still could recover highlights in the picture.
|Minor clipping at +1 stops of exposure|
|Clipping at 1 2/3 stops of exposure|
|Clipping recovered with the use of the highlight and exposure sliders in Camera RAW|