Defocus imaging techniques, involving the capture and reconstruction of purposely out-of-focus images, have recently become feasible due to advances in deconvolution methods. This paper evaluates the feasibility of defocus imaging as a means of increasing the effective dynamic range of conventional image sensors. Blurring operations spread the energy of each pixel over the surrounding neighborhood; bright regions transfer energy to nearby dark regions, reducing dynamic range. However, there is a trade-off between image quality and dynamic range inherent in all conventional sensors. The approach involves optically blurring the captured image by turning the lens out of focus, modifying that blurred image with a filter inserted into the optical path, then recovering the desired image by deconvolution. We analyze the properties of the setup to determine whether any combination can produce a dynamic range reduction with acceptable image quality. Our analysis considers both properties of the filter to measure local contrast reduction, as well as the distribution of image intensity at different scales as a measure of global contrast reduction. Our results show that while combining state-of-the-art aperture filters and deconvolution methods can reduce the dynamic range of the defocused image, providing higher image quality than previous methods, rarely does the loss in image fidelity justify the improvements in dynamic range.