If you’re a hard core gamer, you’re probably familiar with High Dynamic Range rendering. In short, pre-HDR rendering clamps all colors between 0 and 1, black and white. There’s no allowance for things that are “really bright”, so you often end up with lights not reflecting brightly enough, or sunlight becoming too dim when it filters through a stained glass window. HDR allows for a larger range of brightness, allowing for scenes to have better contrast and color, or for the “bloom” that occurs when an object is in front of a very bright light. Wikipedia has a good writeup.
What I was unaware of is that people have been applying high dynamic range techniques to photography. The principle is similar: you take photographs of the scene at different exposures. One photograph will use a long exposure, getting lots of detail from the dark areas, while the bright areas will be washed out. Another photograph will use a short exposure, getting all the detail from those bright areas. When you combine several photos, you get a final image that gives good color range and detail in all parts.
Note that HDR photography isn’t necessarily more or less “realistic”. It’s true that computer monitors can’t really display HDR: they display from black to white. On the other hand, when you view a scene, your eye travels over it and compensates for brighter and darker portions as it scans. If you browse HDR photos, though, you’ll definitely notice the difference from conventional photography.
I was turned onto all of this by a post in a friend’s blog. Here’s his latest shot:

Check out his original post on the subject, or his followup with a larger version of the thumbnail I’ve included here..