Hey Snow Crash, perhaps you could clarify the last two points?
1) How does pH calibrations using both pH up and pH down contribute to this issue?
2) Is the addition of bicarbonates & lockups due to them being highly attractive bonding sites for nutrients and thus causing precipitation?
2 is the answer for 1.
The Bicarbonates and the Phosphates carry a charge. It is this imbalance of electrons to protons that causes H2O molecules to break apart into H+ and OH-. Then a number of Hydrides and Hydroxides are bonded to the electrically imbalanced respective Bicarbonate or Phosphate. As a result you wind up with an imbalance of H+ or OH- atoms/molecules floating around in the solution. It is this discrepancy, or variance, of H+ to OH- that determines Acidity or Alkalinity.
So when you add a bunch of Phosphoric Acid the water molecules react, chemistry occurs, and a number of water molecules are broken apart. Adding more highly Alkaline Bicarbonates (which have no nutritional value) does little more than to grab whatever available elements are near by. This could involve creating a varied amount of different bicarbonate precipitates that form in high salt environments.
Then, by feeding this solution the plant is subjected to more of an electrical equilibrium problem more than anything else.
Remember what you know about osmosis. The root cell membrane takes in elements by electrical attraction. The media has a specific "Cation Exchange Capacity" or basically, how charged the media is. The proper pH provides the proper charge which is most beneficial to the intake of elements through the root membranes. When the media, or in this case, deep water culture is electrically imbalanced, all over the place, with precipitates and all kinds on non-nutritional molecules... The osmotic system becomes upset and as a result the plant can't get moisture and elements as readily.
Plants go into survival mode. Consuming mobile elements like Magnesium and Potassium to support the new growth closer to the top of the plant.
I hope this helps more than it confuses.