Hi Javadevil. The clamp thing does help when saved as a .hdr. I think the problem I was having was saving as a .tiff. For some reason I thought a tr1 render saved a 32 bit .tiff and bsd saved a 8 bit .tiff.
Now I test it and realize I have to save as a .hdr to get a 32 bit image saved.
Can't say I can give a link to somewhere that explains the bit thing very well as I remember when I researched it the info on HDRI was pretty terrible. When talking about HDRI with increased bit depth there are two kinds. 16 bit per RGB channel and 32 bit per RGB channel.
16 bit x 3 channels, Red, Green, and Blue = 48bit HDRI
32 bit per channel x 3 channels = 96bit HDRI
It's another way of expressing it.
This should also not be confused with what some call HDRI photography where they take different pictures at different exposures so they can mix them together to get a surreal look to them in an 8 bit per channel image and is talked about in the next link.http://en.wikipedia.org/wiki/High_dynamic_range_imaging
8 bit per channel also known as a 24 bit image is more colors then the human eye can see. This makes HDRI really only needed in 3D or doing photo/video editing.