scyrene said:
Not to mention, isn't the DR of prints much lower than what cameras routinely record anyway?
The DR of some prints is lower than what slide film can record. Does that mean no one ever chose negative film for its extended latitude?
It's called
tone-mapping, and done properly, you can still retain the perception of contrast, while including tones from your scene you wouldn't have been able to include had you not had the
capture dynamic range of negative film or higher dynamic range digital sensors.
Ansel Adams did it, Bruce Barnbaum did it, and some successful photographers today do it without producing ugly, flat HDR-ish images (usually by finding ways to still stretch out the histogram of the photograph across the entire range, unless that's not the artistic intent).
Furthermore, print / lighting technology continues to evolve. We now see prints capable of 9+ stops of output dynamic range. Digital displays of course can do far more and, arguably, are the future anyway. So over time tone-mapping will be less and less required, and you'll be able to better create the actual range of tones you literally saw with your eyes. But only if you captured all of it without blowing highlights or introducing too much noise into the 'shadows'.
(I put quotes around 'shadows' because the deep tones in your Raw files today may not even need any 'pushing' in order to be visible on the bright, HDR displays of tomorrow).