This part of the program has grown considerably...especially in the area of out of registration corrections. I can only imagine the programming that went into that one. But in short if you have something a little out of registration, like tree limbs or flags moving it will fix the problem by letting you select the frame that will serve as the master for registration purposes. Wow.
I'm not entirely convinced that the tone-mapping is as developed as that in Photomatix, but then again I haven't dug far enough into the program to see what I can do. So far working a "real" image as opposed to "surreal" the work is much easier to fine tune. Maybe its just an issue of figuring out which tool corresponds to that in Photomatix for the surreal effects? Nah, its never that easy.
Another tool I like so far is the "Auto tone" for minor color correction, I haven't thrown any curve balls at it yet like multiple light sources, but what I have done so far is use it to clean up the cyan cast that one gets with HDR file generation. It works well for that. Of course they have full photo filter layer correction available but its nice to see what it can do automatically before you start strolling down the custom paths.