yes FEL is discarded but know that not every FEL movie can be converted to P8 (or played on non-fel devices) because some of them are expanding the picture brightness when BL and FEL are decoded by the player.
So the DV metadata in the RPU is meant to be played with the FEL brightness ONLY. Playing these FEL movies on a non-fel device will result in an image darker than the intended look.
Here's a list of FEL movies that expand brightness (still looking into my library to find more):
https://docs.google.com/spreadsheets/d/ ... sp=sharing