On Fri, 10 Jun 2011 00:30:49 -0500, Canuck wrote:

3 Process it out as a JPG with +1 exposure.
4 Process it out with -1 exposure.

This does nothing to increase the dynamic range. Oversaturated
highlights and underexposed shadows will remain exactly the same.

At the very best, this method could be called pseudo-hdr. In actuality,
it is pure malarkey.