This is fine for masks and reflectance maps (e.g. most surface textures), but won't cut the mustard for at least a couple of scenarios: HDR backgrounds/environments, and interesting compositing techniques within shader networks. You can imagine bringing in a map whose range is not 0.0 to 1.0, and then using it as a multiplier or other effect on shading for a surface shader. Or, you can imagine using an HDR texture for albedos in volumetric rendering, as those values go from above 0.0 to essentially infinity.
Long story short, Cycles needs the range, at least for some textures. The primary issue is that of memory usage; on GPUs with limited memory, taking a 32-bit RGBA texture to a float RGBA texture quadruples its memory usage. A single 2k x 2k texture currently takes 16 MB of RAM; stored as floats it will take 64 MB. When all you have is, say, 1 GB of RAM, 64 MB for a single texture is quite a big chunk of the budget.
There is an alternative format, which is half float; it takes obviously half the space, but doesn't have quite as good of fidelity. Honestly, it's probably good enough for texture sampling. The drawback is that, while GPUs natively support computations in half format natively, CPUs do not. It would likely end up being a performance penalty too large to ignore when CPU rendering.
An obvious answer is to only use float textures where it is needed. This approach is difficult because the texture slots for GPUs must be known beforehand, and on CUDA there is a 128 texture limit. Cycles uses the last 28 for internal purposes, so there are 100 to work with. Siphoning any portion of those off to become float textures impacts that aspect of the budget.
Suffice it to say, this'll be an interesting acrobatic exercise to see how to impact texture budgets the least, while providing the HDR texture benefit. I went ahead and switched all of the texture slots to float textures just to see the benefit on a small scene. Here is a comparison of the Grace Cathedral lightprobe lighting the same scene I used for the environment importance sampling testing, with the LDR (current Cycles) results first, both at 100 paths/pixel:
|Low dynamic range (0.0 to 1.0 clamp) -- Grace Cathedral light probe|
|High dynamic range -- Grace Cathedral light probe|
To say the lighting difference is dramatic is an understatement. There is particularly a very bright light almost directly up in the environment texture, and in the LDR range that is almost completely lost relative to the other bright regions of the environment. The HDR version preserves that, and produces much more natural lighting to boot. Note that the area of the map with the bright light is relatively small, and the environment-lit scene almost looks like it's lit with a point light! That is the advantage of HDR environments combined with importance sampling.
I have yet to figure out how to not blow texture budgets, but until I do, for anyone who wants a full-float texture environment, let me know and I can give you a patch. Just keep in mind the impact it has on RAM usage; you may have to switch to CPU rendering depending on your scene.