That would be a pretty phenomenal advancement if it's correct!
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Found an article on CNET, which discusses HEIF, and in it they say:
Ah, thank you for finding that. It sounds like I was right in theory but Apple isn’t making it so in practice.
The TechCrunch review (https://techcrunch.com/2017/09/19/review-iphone-8/) which is mostly about the camera says that HDR isn’t always on, but it is automatic when the phone determines it would be useful. So not every shot will be HDR but if you’re using the stock camera you don’t get to choose whether or not HDR will be used.
I highly recommend reading that TC review because it goes in depth into the camera and highlights features I didn’t know existed.
P.S. These reviews are making me VERY excited to get the 8 Plus on Friday, the camera should be a massive improvement over the one in my 7.