The Multiple Exposure Mode is for doing things like in-camera composites. It doesn't offer the blend mode needed to perform a HDR merge.
Hi Eric,
While that's correct, it also has an averaging option that apparently uses up to 9 full exposures. That would allow to reduce random noise in the final Raw or JPEG file by a factor of 1.58 with 9 exposures. It would also reduce photon shot noise, but not reduce pattern noise, on the contrary, so one can only hope that that's well controlled. If that is the case then it would provide a super clean file that's very well suited for more extreme single frame tonemapping of stationary subjects.
However, we still need to see an actual implementation to judge if it was correctly implemented (it would need
at least 15 bit accuracy to avoid math overflow and rounding issues). Maybe the Digic 5+ is up to the job, we'll see.
Cheers,
Bart