I've just done a wee test bracketing +/-2EV in jpg and comparing that to a single RAW exposure (all on Manual setting - 200ASA & Active D-lighting auto).
I notice that the +2EV jpg exposure shows considerably less noise in the (now lightened) shadow area compared to the RAW (14bits) exposure adjusted in ViewNX2 by +2eEV - when inspecting the image at 200%
I had thought that I would save space and processing by just taking one RAW shot (20Mb), compared to 5 jpg (5x6MB) ones (because we can only do a bracket in 1EV steps). The contrast of the RAW image is better however.
Quite a surprise - just thought I would share that and wait to be told I'm hoping for too much from a RAW image!
His examples are impressive! (at a pixel-peeping level anyway... I find this stuff just doesn't show up in prints.)
I'll end by adding, I've long said that the popular technique of HDR processing from a single raw image processed to +/-2EV then run through HDR software is not going to buy you anything but HDR artifacts, like softness and haloing. Some people may be processing specifically for these artifacts, and indeed may identify that "diffuse glow" look with HDR. For those of us who strive for a natural look out of HDR processing, this technique doesn't buy anything that you couldn't get from careful processing of the original NEF.