So I read in the EOS bodies for stills forum that DPP handles the RAW files far better than light room. So to test this, I took this photo outside of my apartment with a bright texas sun off of white rocks and a nice dark shadow in the covered hallway. I opened the photo with DPP and just saved it to Full tilt TIFF. I then opened the photo in CS5.5 and Duplicated the background layer. On this new layer I adjust the shadows and highlights to 100% on the shadow slider. I also brightened the "X" even further using the dodge tool set to shadows and 100 exposure.
Let me blow your mind a little.
obviously these could not have been taken by a 5D3............. http://www.flickr.com/photos/mattbicephotography/
here is my photostream so you can go look at the pictures at full size. I think LR4.1 RC certainly works better with Nikon.