If there are some real bright highlights in the scene, highlight correction yields ~1 stop extra highlight range by flattening highlights on the tone curve. This has a subtle effect and can minimize clipping. OTOH, going from ISO 80 to 160 reduces overall DR by almost a full stop. So all things being pretty much equal it depends on whether you want to spend time in PP or have the camera do it.
Personally, I often enable highlight correction as a convenience.
Originally posted by DogLover What's the consensus on this? Would you rather have ISO 80 available, given plenty of light, of course, or highlight correction enabled?