Exactly, @Brad. I think that the -0.10dB peaks are the result of a limiter to avoid clipping. And, in that sense, I think the SHM-CD is the "best" digital source available, to date.
Although, my overall understanding of clipping and its effects are limited, at best, and I don't know the true impact it has on playback. Is it detrimental, regardless of the playback mechanism? In other words, is clipping bad on CD, and on digital files played back on a personal Digital Audio Player (DAP)? Or, is the medium of the CD a factor for which clipping produces undesired results, but on a DAP clipping may be of less consequence, or even none at all?
These days, I'm playing my music back on a Sony NW-ZX300 High Resolution Walkman, and everything is in lossless (when available), and Hi-res (when available). I wonder, for example, if the high-end nature of the device handles clipping differently / better than other devices / playback mechanisms, etc.
#thingsthatmakeyougohmm