Ricoh has 4 pages with details on the K-3's features on its site. On the
third page there's the following information on in-camera HDR (my highlights):
Quote: HDR shooting
to assure worry-free handheld shooting
The K-3’s HDR (High Dynamic Range) function takes a set of three images at three different exposure levels, then picks properly exposed areas from the original set to synthesize a single, wide-gradation image. Since the K-3 automatically compensates for slight misalignment of the composition among the original images,** you can take advantage of this convenient function even during handheld shooting. You can also save the original images in the RAW format,. Since you can store them as a single RAW-format file, you can easily locate them for subsequent data redevelopments.
** The automatic position adjustment function may not yield the desired effect under certain conditions, including excessive misalignment of the three images, certain lens focal lengths and particular subject patterns.
I would conclude from this that in-camera HDR itself is still JPG-only, but that you can opt to have the camera save the three images used to generate the in-camera JPG as separate RAW images in one file? Though I wonder how PP software would interpret that file? Or perhaps they just mean the images can be stored as a single file
each? I.e. the same as bracketing, but more automated (and limited to 3 images).
Wim