Software rasterizing in new games is far better than what was available before the Voodoo series of cards, so no, Ben, I don't agree with you.
However, the "selling point" of HDR is realistic lighting and shadows, and yet every one of those HDR shots looks vastly LESS realistic to me than the non-HDR shots. The lighting is far too bright to be considered realistic unless you happen to live on Mercury or if you've just had your pupils dilated by an optometrist.
(Granted, they could just be bright on my system, but even at very low - way too low - brightness and contrast settings, those screen shots are still too bright in the "highlighted" spots.)