Next, since I'm planning on using Depth ("Deep PIXEl") effects on this image, I set my render resolution to twice that of my target resolution, (HD720p, in this case,) with neither Antialiasing, nor Motion Blur

NOTE:
In order for Depth-based ("Z-Buffer"/"Deep PIXEl") effects to work properly, you've got to work in one of two ways. If your image (and Z-Buffer) is Antialiased, you've got to also work with Z-Coverage and Background buffers, (Z-Coverage is somewhat like a Depth-Based Alpha channel, telling the compositing package how much color of background Items can be seen through each PIXEl, and what color that is that PIXEl).

Since LightWave doesn't yet give access to Z-Coverage/Background buffers, (though NewTek is aware of the need and are working on enabling this,) when planning to work with Depth-Based effects, you've got to render without Antialiasing. What?!? Yep, you render without Antialiasing, but you render at twice your target resolution, (400%, if you've got a lot of fine details that could "buzz/crawl"in an animation,) work your Depth-Based effects on these non-Antialiased images, then get your Antialiasing by scaling them down to your target size. (It's a kid of "oversampling." Clunky, but it works!)

Then, under the Image Processing Tab, I add the exrTrader Image Filter that will save whatever Buffers we choose. By default, it's set to Use Render Path, which will automatically save the EXR files With Respect To our "standard" Save RGB settings we set in the first step! You also see that I've chosen the "PIZ," lossless form of compression, and Enabled only the Render Buffers I think I may need for this render.

"," and let LightWave render and save our frame as normal.