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It seems to me that by underexposing by one stop the range of detail from highlight to shadow would be greater.
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Highlights, yes, but your shadows get noisy, and a full stop of underexposure means that the shadow noise will creep into your midtones. As always, you gain some and you lose some. Take your pick. Personally, I'll take the clean midtones.
Expose to the right usually involves keeping the highlights in, but if you're printing on newsprint your highlights and shadows go anyways, so we typically just expose for our subjects and/or desired effect and let everything else fall where it does; usually it looks fine on print and on the web.