No, actually, if you play around with the sliders, and not just the presets, you will find that there are tools and mapping algorithms that will help reduce artifacts, and you can achieve anything from a very natural look to a highly stylized surreal effect. I have been using Photomatix Pro for several years as my go-to program, and while it has many controls, found it hard to figure out how to get specific effects. I have also experimented with HDR-Expose which has some nice interface and algorithm enhancements. But HDR Efex Pro has impressed me with it's flexibility. I use it as a plugin in Aperture and Lightroom as well as a plugin in Photoshop CS5. I have never liked the built in HDR processing in Photoshop. Even the new HDR Pro is underpowered compared to third party software.
I am running all this on a 4 year old MacBook Pro, 2.4ghz Core2Duo processor, with 4 gigs of RAM, and an nVidia GeForce 8600m GT graphcs card with 256mb of VRAM. Not especially the latest and greatest, and I do not experience any real slowdowns using any of the latest HDR processing programs. I'm running OS X 10.6.6 which is fully 64 bit, and both AP3 and LR3 run in 64 bit. I'm actually running Photoshop in 32 bit mode because of some of the older plugins I have, but HDR Efex Pro runs just fine from within CS5. When you invoke the plugin, it appears to send a copy of the file for processing into the outboard program then save it back into CS5 after editing.
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Only my opinion. It's worth what you paid for it. Your mileage may vary! ;-}
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