It would make the life in postproduction so much easier if you have to produce images with transparency for further graphics production (print, screendesign, etc.) so you just can pass propper PSDs, TIFFs with alpha or PNGs to non 3D artists or compositing gurus living in non linear color space.
Pls render the sphere without the plane. Save it as multichannel exr. Open it in photoshop and heck the alpha. There are no effects (refraction, reflection, specular) of the light considered in the alpha channel, right?
I use a multichannel exr saved from the framebuffer in photoshop and take the effects results chanel (in PS = layer) as base not the RGB channel. This includes all the postproduction (color-, value- etc corrections) done in the vray framebuffer. If I apply the alpha channel as “alpha” (copy the alpha channel layer into the alpha mask of the effects results layer) I loose the light reflections and refractions if composed on a white background and I loose the value corrections done in the vray frame buffer as well .
I use the Exr-IO plugin for importing multichanel EXRs into PS and separate the alpha as layer at import.