To my understanding, DR400% should have the least contrast than DR100%. However, this series of test proves the contrary. I will do the same test again in a couple of days to verify my findings. Maybe I have to send back my HS10 to Fuji to have a check if it is really the case.
It is very interesting to note that there is sharpness difference between the photos taken by different DR setting -- sharpest in DR100%. I don't know whether it relates to the problem of handshake and I will test another shots again in a couple of days to verify this finding.
DR100% (firmware ver. 1.01) - could be adjusted in all ISO settings
DR200% (firmware ver. 1.01) - could be adjusted in ISO >=200 only
DR400% (firmware ver. 1.01) - details in the concrete block on the ground could be noted (could be adjusted in ISO >=400 only)
The contrast and sharpness problem is fixed by the newly-released firmware 1.01.
100% crop comparison - micro-contrast is better in DR400%
Dynamic Range at 400% (contrast is good)
Dynamic Range at 400% (not recommend to use DR200% since it does not have much difference from DR100%)
Dynamic Range at 400% (reveal some details in dark areas)