I think I can accomplish that with several levels of contrast masking to flatten the image measurably then add back contrast in the remaining brighter areas.
You can also mess with the different artistic tools in PS at low levels to get different effects, I'm sure that one of them could produce something similar
About 15 seconds in CS2 can do that by using Shadow/Highlight tool twice, sliding the shadows full to the right.
A little contrast, toning and black levels and voila.
