I have been using HDR for almost 2 months and I can't say in words how excellent it is in every way. The colors are more realistic, the shadow detail is better, the bright highlights pop more(things like flashlights in a dark room, sun gleaming through the trees and reflecting off a river etc). Everything is more vibrant.
We met with Vanja Cernjul, the director of photography of the Netflix series Marco Polo, and he said that he was able to light the second season in ways that he never had before and for the first time could shoot interiors using natural light. He was amazed at the detail he could get in shadows, whilst also picking out the highlights in a fire or the moonlight. He described it as like having all his restrictions removed and now he wanted to discover ways of using this freedom in a creative manner. We heard that some directors of photography are so impressed that they only oversee the HDR master, delegating the SDR master because they don't want to see how restricted it is in comparison.
However it isn't just new content that benefits, older films shot on 35mm or 65mm can also have a lot of latitude, allowing HDR to take full advantage of it. That doesn't mean every film will benefit, some were only lit for 50 or 100 nits and thus offer no real opportunity for an HDR master but many older films will be mastered in HDR. The studios are keen to stress that no HDR master will be created without the consent of the filmmakers or their estates and in fact some directors have simply refused to have their films remastered in HDR because the original version is exactly what they wanted. However other directors, such as Francis Ford Coppola, have embraced the possibilities and we saw HDR remastered clips of both The Cotton Club and Apocalypse Now on an LG OLED TVs. To say the results were spectacular would be an understatement and Apocalypse Now looked like it was made yesterday, rather than in 1976. In fact when looking at HDR masters, directors often comment that the last time they saw some details was on the set with their own eyes. As long as the technology is used in a creative way and as long as remasters are done carefully, then HDR has enormous potential.
The 2016 lineup will have better specs and better pricing. They will get brighter with better black levels and support more of the P3 DCI color space.
Sharp is supposed to have some FALD HDR LCD(with UHD ultra premium certification) TVs with 93% of the P3 DCI colorspace in the 70-80" range starting under $3k. We don't have reviews but if they turn out to be good sets it could really put pressure on Samsung and Sony in the high end LCD market to drive prices down hopefully. LG has a new OLED lineup coming down the pipe that have Dolby Vision support.
UHD Blu-Ray disks will start arriving next month along with players from Samsung. Phillips and Panasonic are not far behind with their own players. They will support HDR and wide color gamut. Amazon streams HDR to some TVs now, Netflix will begin streaming HDR this summer, Google has announced a new video format for youtube to handle HDR, Comcast and Dish are readying new boxes that support HDR and there is a new broadcast standard that was shown at CES that offers live TV in HDR.
As for standards there is HDR10 which is the baseline accepted standard by the industry and Dolby Vision which is a competing format. Samsung, Sony, and Panasonic support HDR10 while LG, Sharp, Phillips and some chinese manufacturers have announced support for Dolby Vision. Basically every UHD Blu-Ray with HDR will work on every HDR tv(exception being Vizio Reference series TVs because they do not have HDMI 2.0a hardware required). Dolby Vision TVs will also read HDR10 metadata(except Vizio Reference series TVs because they do not have the required HDMI hardware) but a TV that only supports HDR10 cannot read the DV metadata. This isn't a big deal in practice because Dolby can send HDR10 data in a compatibility layer as well and all HDR UHD Blu-Ray disks must have HDR10. Dolby has said that their HDR method basically rides on top of HDR10 to provide extra data for compatible TVs. Insiders say that DV and HDR10 look identical on consumer TVs, but we don't have a side by side comparison yet. Netflix will support both HDR10 and Dolby Vision, Amazon uses HDR10, VUDU uses Dolby Vision(currently only supported on Vizio Reference series TVs and nobody is sure if their movies have the HDR10 compatibility layer in the DV stream).
So my best advice is to give it a few months for new sets to start arriving and we get more information on them in terms of street price and real world testing. Then you can decide with more information and better TVs to choose from. Not that the current HDR TVs are bad, but the newer sets will make HDR pop just that much more and unless you need a TV now and cannot wait at all, it's better to wait for those new models which should start arriving by summer if not before. Don't be discouraged by the HDR10 vs Dolby Vision thing as all Dolby Vision movies will have HDR10 streams as well so you don't necessarily have to worry about a HDR10 TV like the upcoming Sony x940D not supporting Dolby Vision.
You can read more about it here
https://www.avforums.com/article/ultra-hd-alliance-hdr-and-4k-blu-ray-at-ces-2016.12295