The real "trick" with the Fuji is that while the internal blending and hdr happens on the fly/instantly, and you get an effective 1.4x resolution(about 8.6 useable MP vs a Bayer pattern), you *CAN* drop it into standard mode and use the zero blending software and bracketing with a tripod of course to obtain identical results. The advantage of the Fuji is that it does this blending in-camera for action shots and the like.
Bayer sensor: 12MP X 0.66 (interpolation losses)
Fuji Sensor: 6MP X ~0.90 (dual mode)
Fuji Sensor: 12MP X ~0.75 (hexagonal layout high-resolution mode)
It's exactly like the old Hitachi Diamondtron monitors versus the Tri-dot technology. By gaining better angular alignment in each direction, your eyes see less distortion and cleaner text. Try looking at both sometime with a static gray image - the moires are far less pronounced with the Hitachi technology.http://www.digicaminfo.btinternet.co.uk/sensors.htm
Note in the article how large the Fuji is compared to everything else other than a full-frame sensor.
The Fuji sensor does have more pronounced jaggies though on hard edges in standard mode. But DIY blending takes care of that quite well.(or the in-camera mode)http://www.dpreview.com/gallery/nikond40_samples/
The big deal here is picture #8. That spot of sunlight is hideous. http://www.dpreview.com/gallery/fujis5pro_samples/
Picture #5 is similar. Note how it doesn't nuke the foreground shadows/trip the camera's aperture compensation as badly. Picture #1 is even better. One bright spot but otherwise fine.
Blending yourself will get the same results, but it's nice to not have to always carry a tripod, IMO. Great for trips and such, and for composed landscapes and the like, DIY bracket at full resolution.