Lorin (et al),OK, I don't have any formal wear handy and the weather is terrible so this will have to do 
This time it's 9 images in 1EV steps from -4 to +4.

D70 50mm f/22 ISO 200 on tripod using timer (ambient light, no flash)
30ss upper left to 1/8s lower right
Loaded with ACR into CS adjusted to the same Exposure in ACR:

This time the +4EV and +3EV do look different; but +2 EV to -4EV look pretty much the same!
But take a look at these 400% crops:

Underexposing definitely hurts!
So, it still looks like expose to the right, even if it's two stops.
Bill