About 20 years ago I had a portable DAT recorder and stereo mic that I toted around Europe while on tour with the Michigan Men's Glee Club. I used it to record every concert from that tour, which resulted in the Great Halls of Europe CD.
I pretty much had no idea what I was doing as far as audio recording goes. I made a bunch of mistakes including improper grounding which resulted in a 60 Hz hum on some of the recordings, and the common mistake of setting the gain too high which clipped the recording.
I remember thinking at the time that if I only had a 4 track recorder, I could record the same stereo signal twice, one at a higher gain for detail in quiet passages, and one at a more conservative gain that would never clip no matter how loudly things got.
Now with all this buzz around HDR photography (Apple even integrated it into the latest iPhone), it got me thinking that this is really the same idea applied to audio. Actually I'd be surprised if this wasn't already being used in some capacity somewhere. If you know of something, post a link in the comments. Thanks!