It does apply to Raws as well, it isn't just a jpeg engine. Youd be surprised how much range it does add.Originally Posted by Photo-John
It bends tonal curves at the top and bottom, making them less graduated - it is useless unless you intend on using that ultra-high and low detail, so for the most part it remains off or very low for me. But when I so choose, I can make a pseudo-HDR using a single shot thanks to the huge range potential.