You are invariably right on equivalence. It's worth adding the caveat to avoid some confusion that it is for having the Canon crop camera 1.6x further away from the subject to give the same field of view of as full frame, and the images are viewed at the same size. I like to think of the noise as resulting from "photons per duck", by analogy with "pixels per duck". The FF has the duck 1.6x1.6 larger in area on the sensor but the illuminance is lower by (9/5.6)x(9/5.60) = 1.6x1.6 because of the f-numbers, and so the same number of photons fall on the duck in both cases.Yes it is, equivalence, taken to mean practically identical image characteristics, includes iso. A ff sensor has a 1 and 1/3 stop noise advantage over a Canon APS-C sensor.
So 1/500 sec, f5.6, iso 800 on a Canon crop camera has a ff equivalent of 1/500 sec, f9.0, iso 2,000. At those settings you get essentially identical image characteristic, subject movement, depth of field and noise, and the EV is identical.
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