HDRsoft has released a more affordable version of its popular Photomatix software.  The new version is called “Photomatix Light.”

Photomatix Light 1.0 is available for $39 via instant download from HDRsoft.com. Photomatix Pro will run you $99.

Photomatix Light 1.0 is a standalone application that provides HDR tone mapping, exposure fusion and automatic alignment of hand-held photos.

Photomatix Light 1.0 Features

• HDR processing from JPEG, TIFF, PSD and RAW files
• Automatic alignment of bracketed photos
• Reading of exposure information from Exif data
• Two HDR processing methods: Exposure Fusion (for “natural” look) and Details Enhancer Tone Mapping (for more “surreal” look)
• Dialog with preview for adjusting the following settings:
  Exposure Fusion: Accentuation, Blending Point, Shadows, Color Saturation, Midtones contrast
  Details Enhancer: Strength, Color Saturation, Smoothing, Luminosity, Microcontrast
• HDR processed image can be saved as JPEG or 16-bit TIFF
• Color managed display

There are, of course, some limitations.  Your maximum number of bracketed images per set is limited to 5.  Additional features can be found in a comparison chart here.