Sometimes in Photomatix Pro 4, tone mapping an image is really benefitted by also using the Fusion operator. Here is an image from a high contrast scene that required me to shoot six exposures: -2EV, 0EV, 2EV, -1EV, -3EV, and 1EV. (I knew I needed more than my initial set of three by checking the histogram in my camera, which showed my -2EV shot to still be clipping white.) When bracketing this many images, Lightroom 3 really streamlines the process of making sharpening and noise reduction adjustments to the raw images and then exporting them to Photomatix Pro 4 via the Photomatix plugin. Here are my settings in Lightroom 3:
If your workflow has you sharpening and reducing noise in Adobe Camera Raw, you will not see the adjustments reflected in Photomatix unless you save each raw file to a tiff file before loading them into Photomatix. To prove it to yourself, convert the raw files to B&W in Adobe Camera Raw, and then load them directly into Photomatix. You will output a color image. But using the adjustments in Lightroom 3 and loading the raw images via the Photomatix plugin, you will get the B&W image you were expecting, along with all of the other adjustments.
When the images were processed in Photomatix Pro 4, I was getting closer to the results I wanted using the Fusion operator. Not perfect, but close. The sky, as expected, was smooth with perfect illumination and the foliage looked great, too. But the rock cliff was too dark and contrasty. 
When using the Detail Enhancer under Tone Mapping, I was able to get the rock cliff and the foreground rocks like I wanted, and I knew that it would easily blend in with the Fusion output using a layer mask in Photoshop.
I opened both of these files in Photoshop, and using the Duplicate Layer command, I placed the Detail Enhancer image on top of the Fusion image. I then added a layer mask, inverted it, and painted with white over the foreground and rock cliff section of the image. 
Tone Mapping and Fusion
Sometimes in Photomatix Pro 4, tone mapping an image is really benefitted by also using the Fusion operator. Here is an image from a high contrast scene that required me to shoot six exposures: -2EV, 0EV, 2EV, -1EV, -3EV, and 1EV. (I knew I needed more than my initial set of three by checking the histogram in my camera, which showed my -2EV shot to still be clipping white.) When bracketing this many images, Lightroom 3 really streamlines the process of making sharpening and noise reduction adjustments to the raw images and then exporting them to Photomatix Pro 4 via the Photomatix plugin. Here are my settings in Lightroom 3:
If your workflow has you sharpening and reducing noise in Adobe Camera Raw, you will not see the adjustments reflected in Photomatix unless you save each raw file to a tiff file before loading them into Photomatix. To prove it to yourself, convert the raw files to B&W in Adobe Camera Raw, and then load them directly into Photomatix. You will output a color image. But using the adjustments in Lightroom 3 and loading the raw images via the Photomatix plugin, you will get the B&W image you were expecting, along with all of the other adjustments.
When the images were processed in Photomatix Pro 4, I was getting closer to the results I wanted using the Fusion operator. Not perfect, but close. The sky, as expected, was smooth with perfect illumination and the foliage looked great, too. But the rock cliff was too dark and contrasty.
When using the Detail Enhancer under Tone Mapping, I was able to get the rock cliff and the foreground rocks like I wanted, and I knew that it would easily blend in with the Fusion output using a layer mask in Photoshop.
I opened both of these files in Photoshop, and using the Duplicate Layer command, I placed the Detail Enhancer image on top of the Fusion image. I then added a layer mask, inverted it, and painted with white over the foreground and rock cliff section of the image.