I think there's a lot of misinformation being posted in here.
First, check this video by Mark Wallace and Adorama TV. It gives a good primer to Dynamic Range:
Also, for those saying DR doesn't mean much, or doesn't matter in print - you are very wrong. Photographers have been pushing the limits of film data for decades. Where do you think the "burn" and "dodge" brushes in Photoshop came from? They were real techniques used in the darkroom to pull out shadows and darken highlights.
This translates directly to DR performance in dSLRs. Either the information is there - or it is not. A sensor with a higher dynamic range will give the photographer more latitude with processing/editing options in post. And that translates directly to prints.
Smaller DR- less info, and the physical editing limit is hit sooner. Higher DR- more info, more options for editing and exposing usable data in post.
UPDATE: I should point out - if you haven't been over-tweaking your files as part of your normal post-processing technique, than DR won't matter much to you. However, for landscape shooters, and photographers who are used to heavily tweaking their highlights/shadows in post (to maximize the range in their prints), DR is the holy grail of post-processing and digital sensor tech.