Overview NEGATIVE or POSITIVE colour film should be scanned as is; this means use the Negative button on the scan window when it is Negative Colour. When the film is Positive Colour film use Positive. The film needs to be scanned on the bright side...not dark! This means the Gamma will be pumped up.
B&W negative film should ALWAYS be scanned using the normal setting (this means POSITIVE... as there is nothing on Retro scan panel that says "normal") and NOT scanned with the NEGATIVE button SELECTED on the scan window.
Scanning B&W Negative AS POSITIVE will result in the need to "invert" the film once on the vegas timeline.
1) Run the scan using the "normal" settings:
Set the exposure dial to noon. Set the gamma to around +15. 2) Or another way is to use the Negative setting on the capture page of the RetroScan software (this setting is optimized for colour negative...not B&W negative) .
Set the exposure dial to noon (I tried 1 or 1:30pm but the scan stopped after 50 feet...probably too bright). Click the Negative setting Set the gamma -35
UPDATE (Sep 29, 2016): Scanned a color negative film experimenting Gamma settings. Other settings: Stab on, Exp 12, sensor 2; AND Gamma at three different settings: 15, 0, -15. It turns out that Gamma 0 was the best result.
Use the "sony Invert" FX to flip the negative to positive. (Not required if run using Negative setting).
Then use the Levels FX to adjust the brightness.
Then the color corrector FX to adjust the colour.