Hi Dave,
The last two (promise!). These are roughly shot from the same spot, so the angle of the sun is not particularly different.
1 by
EggmanOrWalrus, on Flickr
1/1000s, f/6.3, ISO 200, 0 EV
2 by
EggmanOrWalrus, on Flickr
1/400s, f/10, ISO 200, 0 EV
The first one is completely clipped, though the second one has a much better looking histogram. (I realize I'm shooting by histogram a bit, but really trying to understand the nuances of correct exposure).
Thanks a lot for your input, really appreciate it.
Your first image has a wider dynamic range partly due to that tree on the left being so dark, there's nothing like it in the second image and hence its dynamic range is less
Time of day springs to mind. In the middle of a bright, sunny day the dynamic range between foreground and sky is very high.
True

and hence often too high to record everything so you make your choice of what should be exposed correctly and accept that the unimportant bits can blow/block
People use filters to enable them to do longer exposures like your first image without everything being over exposed. There are also graduated filters that help stop the sky being overexposed.
If you shoot in RAW you can often pull back some detail from the highlights using software like Lightroom.
Filters (by which I take it you mean Neutral Density filters that affect the whole image) for longer exposures still won't make ANY difference to the dynamic range, in the water shot the water would blur, anything else that moved would blur, but the overall exposure and areas of blown would be EXACTLY the same
Grad filters for skies are often a waste of time/money as they affect everything, so in the mill shot the sky make be visible but the buildings/trees would be too underexposed; as they are the subject this would be wrong
Lightroom is great for highlight recovery
Despite that you can still choose how to balance the exposure according to your preferences IN THE CIRCUMSTANCES.
Not sure I understand this comment - in a high dynamic range subject you usually have three options...
1 - expose for the highlights and the mid tones usually take care of themselves, the darker tones block up hugely
2 - expose for the mid tones and accept some, maybe lots, of the highlights and blacks will blow and or block up
3 - expose for the darkest tones and while the mid tones may be fine all of the highlights will blow
The only thing it depends on is what the subject is - in the mill above, exposing for 1 would totally underexpose the subject matter, 2 would underexpose the subject a bit but Lightroom may be able to recover some sky/black details, and somewhere between 2-3 is what the OP did, which is correct for this shot, but means the highlights (sky) has completely blown
Of course if you took all 3 exposures you could decide later which best suits what you want, or even blend them in a HDR program and hey presto, problem solved
Dave