If you do not need the full 32bit data to accomplish your task, then exposure blending, and staying in the realm of LDR throughout the process, is probably a simpler way of combining exposures.
If you are going to relight your scene or do extensive color grading or effects, then it is probably advantageous to merge multiple exposures to a full 32bit dataset and tone map to gently compressed, low contrast 16bit LDR file for further processing. Part of the problem comes when trying to create a "final" image in an HDR program.
kirk