with everything he said!

I use Photomatix. I am learning. I shoot with a D70, which has bracketing. I can do 0/-2/+2 and set it on continuous shooting, it works well. I don't have the option of 5 automatic bracket shots, just 2 or 3.

I have used a tripod, and handheld. Not hard to hand hold it with reasonable light. The program matches features pretty well to fit the three shots together, and crops automatically.

There are so many settings in Photomatix that you need to play with it. A lot.

You don't need a D300 (as nice as they are). A D90 is a great upgrade from your D40, and you can spend the difference on lenses.

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2007 X3 3.0si, 6 MT, Premium, White

Retired:
2008 535i, 6 MT, M Sport, Premium, Space Grey
2003 X5 3.0 Steptronic, Premium, Titanium Silver
2002 325xi 5 MT, Steel Grey
2004 Z4 3.0 Premium, Sport, SMG, Maldives Blue