Yep, your right about the contrast, Peter. M42 is well known to suffer burn-out in the core while trying to image the outer neb wings at longer exposures.
You'll find that if you take an image like the one above, then one a bit longer and another longer again showing ALL the nebula, you can stack them in easyHDR which is a program that stacks images to show all detail at differeing exposure lengths.
It will preserve the non burnt-out core, then it will add the next image and adjust the core brightness to match the 1st layer, and so on.
So, it is adding more and more brightness as the exposures are longer, but doesn't go beyond the brightest bits of previous images, giving you a wholly illuminated imaged without burn-out