I agree on everything you've sad mp5gosu.
I use HQ PG HDRI images but there is still a need to make small adjustments in gama (somwehere in between 0.75 - 1) in order to get exactlly the right sharpness you want. Even if you use sunny-day HDRI. Offcourse there are alternatives (using sun or direct light) but they are a bit time consuming, but certainly doable.
I don't want to impose my method as the right one, I'm just saying there are HQ 3D artists that use this method and this is why I would love to recreate it in Corona too. I'm a vRay user ATM.
Here's his blog post about the issue:
http://bertrand-benoit.com/blog/2010/02/27/on-hdr-lighting/You could find Peter Gutrhrie's post on his blog too.
cheers
m