This issue did not let me alone.
I have found out, that even the big brother, the HP3458A, uses the same AD637 for its analog ACV mode.
In this mode, it has the same resolution (6 1/2 digits) and similar accuracy figures, like the 34401A.
I have measured various precise AC voltages @ 1kHz from a Fluke 5200A AC standard by the display readings from the HP3458A and the HP34401A, both in the 1V ACV range.
And I also have measured the converted, analog DC output at pin 6 of the AD637 in the HP34401A, just before the signal is fed into the A/D converter. So there is no further possibility to analogously manipulate the signal.
The diagram clearly indicates, that the AC converter in both instruments delivers linear readings down to about 0.5 mV, but then saturating at a residual value. Therefore, smaller values are unprecise and not useable any more.
The 34401A display reading deviates from the linear transfer function below about 4mV (0.4% of full scale).
That clearly proves, that in this and similar HP / agilent instruments, (e.g. the U3402A), the software artifically sets readings to zero.
Such AC converters are able to deliver results about 10 times smaller than that, but it is questionable, if that region is really useful, due to decreasing accuracy.
It's better, to have lower ranges available, like the HP3458A, which provides an additional 10mVAC range.
Frank