Not sure how much this will add, in terms of clarification, to the original question, however....
In the last couple of years, I've often found that I like the results more when I halve the box speed of print film (definitely not slide film). For 400 ISO (which I use most commonly), Ive experimented with setting the camera's or my hand-held meter's ISO setting to 320, 250 and even 200.
I've recently read articles which show the results from colour print film over-exposed by up to 4 stops - with minimal detrimental impact other than colour shifts. Under-exposure provided much less tolerance with two stops being the point at which the image quality became seriously compromised.
It may be that the box speed shown is little more than a "guide" as to the ISO the film can be used in "normal" daylight situations. Yesterday, as an experiment (to see if it reduces contrast) I shot a roll of 120 XP2 Super rated at 200 ISO in very grey / drab conditions and I'll post the results when I get it processed in the New Year.