Georg thanks but I am still unable to proceed.
Something is very wrong with my processing/machine. I can get good results if I operate on just one of the TIFs (say the Barnards loop 3 mins) But the moment I try to do anything with the HDR image, it turns to complete junk. DBE just does not work at all.
I tried other things: Converting the 64 bit image to 32 bit and then processing. No luck. The image swings from too much red to too little red. The histogram for red channel is a thin spike whereas for other channels it is dispersed across entire x axis. So I am unable to stretch at all.
I am running this on a somewhat underpowered netbook (but it has 8GB RAM). I can't imagine that would make a difference, would it?