Originally Posted by
proseak
I use "Merge to HDR" quite a lot and regard it as merely the first step in generating the image - I prefer to do my adjustments in either ACR or PS and sometimes both. My preferred settings in "Merge to HDR" are to use one of two presets - either "Flat", or "Photorealistic", with the radius set to 1. Then save as 16-bit Tiff and import to ACR. There, I set the blacks rather heavily, and use fill light to open up the shadows. Quite a lot of Clarity to "up" local contrast, and Vibrance to suit. Usually not much to do in PS at that point, except perspective control and output sharpening.
HTH
Peter