Doesn't Nvidia with their NVFP4 claim that it's lossless?
I haven't tested enough models Nvidia has converted to NVFP4 besides GLM 5.2 but it seemed fine to me.
My own luck has been hit or miss with it.
Certainly not lossless. Whether the loss matters depends on the range of values being quantized. When there are outliers that are massively higher than their neighbors the precision of those neighbors gets wrecked(or the outlier gets clipped), so it's important to utilize strategies that decrease the maximum value or increase the minimum. I suspect some models put more effort into that and therefore are more effective when quantized.
Absolutely not lossless:
https://www.reddit.com/r/LocalLLaMA/comments/1twz9ur/cyankiw...