Okay, I spent an hour with my Sunday coffee and some music, making love to the ole' Photomatix editor.
1) Final color version, perhaps a bit too "fakey-looking" now that I'm done, sometimes that'll happen.
2) B&W:
3) Here are the tone-mapping settings I used in the Photomatix editor (click for full screen):
4) Minor tweaks to curves and exposure; added a tinge of yellow through Selective Color just because I liked it.
5) Now we go into Photoshop to fix some things. I run the image through Noiseware Standard (plugin to Photoshop) and I apply a bit of an Unsharp Mask.
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Now, I may be getting superfluous here, but sometimes I like to partially "Orton-ize" the photo by merging all adjustment layers with the background layer, duplicating it, increasing exposure by 1.5 to 2.0 or so, and throwing a hefty Gaussian Blur on top of it. Then I overlay that duplicate with my original (Move Tool + Select Key to align) and then in the Layer Blending Mode, select Soft Light. Now, throw a black and white layer between that blurred layer and the original background layer. Play with the Opacities and Fills of both until you are satisfied. Sometimes I find this adds a "richness" to the photo and its colors. Other times (though less often, it makes it worse).
6) Here's what I'm talking about kind of (before I added the black and white layer in between the blurred layer and the background layer) --
7) Now with the B&W layer thrown in there, and after I had adjusted my opacities and B&W sliders to my preference.
8) And the Black & White conversion; note the sliders in the adjustments palatte for black and white - experiment with and take advantage of those.
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Something to be mindful of -- Color Profiles! Have a look...
The reddish one resulting from when I opened my Photomatix tone-mapped edit of thr33's photos in my own Photoshop which is set to use ProPhoto RGB. From what I could tell, this would be the difference between ProPhoto RGB and Adobe RGB that thr33 uses (I'm assuming). We've all got to be mindful of the color profiles.
I've come to understand ProPhoto RGB is better at maintaining consistent color across different pieces of software, so that's why I've been using it. Someone correct me if I'm wrong on that point...