Yes and no. Yes with a single shot. When you over expose a highlight on film, there's still detail to be extracted. With digital, you can recover blown highlights to a certain point. However, there's a lot of people shooting HDR and it's sort of cheating, but it's quite effective. When I shoot film, I check the range of shadows and highlights to best figure out how to fit the range on film. It's a creative decision working with the limited range of film and development. More dynamic range does not mean better. It all depends on what you want to communicate.