One of life's little ironies is that Sony may manufacture a sensor with a higher dynamic range than Canon. The problem is that neither of the today's current monitors or printers come slightly close to having the dynamic range of any of today's high end cameras.
Hi Tom,
Sensor DR is not the same as photographically relevant DR, and lots of scene contrast, once it passed the lens and mirror chamber's internal relections, is not all that high anymore. Just realise that the reflection of light from e.g. black ink on white paper is barely more than 7 stops of a difference. Add some light contrast and subtract internal reflections, and you may be lucky to have 9 stops of effective contrast.
Then there is tonemapping, because a full High Dynamic Range image will look dull and lifeless on our display without tonemapping. That will bring down the scene dynamic range to much much lower levels as well.
The contrast of our displays depends on the viewing conditions, but can be cranked up to levels that hurt our eyes. But hurting my eyes is not something I'd like to do for a pleasant viewing experience. Also, even a 1 bit image (Black or White) can be displayed at various contrast levels. More bits (often just 8-b/ch input) will only allow more subtle intermediate levels, not more contrast.
With printed output we are lucky to get much more than 7 stops DR (on glossy paper without ambient reflections).
Cheers,
Bart