Hi all.

Does anybody know whether combining bracketed exposures in Photomatix could yield the same results (or at least very similar) as using ND graduated filters ?
The reason i ask is that at the moment I am considering buying a set of ND grad filters for use in landscapes, but it has also occured to me that i could acheive the same results in Photomatix by combining two exposures in a fairly simple way, say one normal exposure and one exposure around two stops underexposed for a bright sky, which would be how i may have done it using the ND grads. I could do this as well as being able to use it for creating actual HDR images with many more exposures should i wish too. This would make it better value for money than the filters. 
My only uncertainty is whether it is possibe to retain the more natural look of using the graduated filters by using Photomatix, which is why I need some advice. I don't want to shell out for the software if it will not be capable of retaining that natural feel, whereas if i buy some ND grad filters I know I'll not have wasted my cash. The cost of Photomatix is around the same as a set of Cokin ND grad filters and would eliminate the need to carry another set of physical objects around in my camera bag, which also appeals to me.

Any advice/opinions welcome.

Kind regards.. Shaun.