I've tried nearly every Windows or Mac HDR merger, blender and tonemapper, from command-line to realtime, from freeware to in-camera (even did a comparative study of commercial and experimental tonemappers for Autodesk), and through it all I've stuck with Photomatix for almost 8 years now.
[Wow, I just realized that's a long time for HDR software use! Prior to that (circa 2001) I used Greg Ward's Photosphere or "mkhdr" on the command line]
I've never been one to "cook" HDR files when tonemapping them, and I've fought a long and arduous battle against what I see as "undesirable artifacts" from the process (halos, clipping, noise, bad color management), so aside from my un-tonemapped HDR file output, I find image fusion (no HDR intermediary) to be the best for my own needs, which I'm glad Photomatix also offers. Not to mention all the refinements in Photomatix like batch processing, EXIF preservation, XMP files to store each image's settings, (a start at) color management, and even the cute little "Photomatix Essentials" program to get other people hooked on it.
Last edited by panoguy; 05-16-2012 at 04:26 PM.