What happens behind the scenes in Early Decision (ED)?

No, that doesn’t happen. Some schools say they sometimes have the conversation – Carleton, for example, says for students on the cusp of admission they do look at financial need. Something like that last 5% of the class they admit. I am not sure what you mean by a “PITA” FA form. It has nothing to do with the complexity. But if a school says they DO look at need, then you can assume that higher need translates into a lower chance of admission. I do not think need blind schools say, “Hey, I don’t have info from the FA office, but I see the dad is a lawyer – so let’s admit them because they will pay the bills.”