In a lot of situations you can indeed get the same result in processing raw. That is not true in all case however where the range of light is very large or concentrated in a small range.
Processing Raw does start with an image of greater precision which allows the black spot/white spot to work well but HDR actually gives you the benefit of a greater range. If you look at the images I posted, the HDR version shows a lot of detail in the black plastic recycle bin next to the trashcan on the right. I might try it some time but I don't think I could get that kind of detail from a single raw image and still have detail in the really light portions.
Now that I have a better understanding of this I think I will be using it occasionally.
HDR would actually work with Raw files it's just that the computers in the cameras today don't really have the horsepower to deal with the amount of processing required for higher precision. I wouldn't want to wait 5 minutes between shots