Just to correct some of the inaccuracies in this thread:
HDR = High Dynamic Range, meaning brighter whites and darker blacks. Basically, a bigger difference between white and black (and thus more shades in between) than previously seen.
You don't need FP32 for HDR. (In fact, Valve had said they got their "HDR" working with integer formats on FX cards. Of course, Valve said a lot of things before HL2 was released, and we didn't even see their HDR in their released product.) FP32 will allow for greater range than FP24 and FP24 than FP16, of course, but they're all an improvement over the FX8 precision of previous DirectXs.
As Frosty said, FC's "HDR" (which really looks more like a bloom, IMO, but I've only seen screenshots) is using the GF6's FP blending (which is FP16, not FP32). You can't enable AA with FP blending b/c nV didn't implement it in hardware (I'm guessing for performance and profit reasons).
BTW, FP blending is outside (above and beyond) even the SM3.0 DX9 spec. Nevertheless, it's expected ATi's upcoming SM3 card will support it.