Wild-mushroom risotto has a delicate taste when made with fresh mushrooms, and a rich, wintry flavor if you combine fresh and dried.
Heat stock in pan over medium heat. Add dried mushrooms; cook until tender, about 5 minutes. Remove with slotted spoon; chop finely. Keep stock at a simmer over medium heat.
Remove stems from fresh mushrooms; chop finely. Slice caps 1/4 inch thick. Heat 1 tablespoon oil in heavy-bottomed saucepan over medium heat. Add mushroom caps; cook, stirring occasionally, until golden and soft, about 3 minutes. Transfer to bowl. To pan, add remaining 6 tablespoons oil, mushroom stems, and shallots. Cook, stirring, until translucent. Add rice; cook, stirring, until rice begins to sound like glass beads, 3 to 4 minutes.
Add wine. Cook, stirring, until wine is absorbed by rice. Using a ladle, add 3/4 cup hot stock to rice. Using a wooden spoon, stir rice constantly, at a moderate speed. When rice has absorbed most but not all of liquid and mixture is just thick enough to leave a clear wake behind the spoon when stirring, add another 3/4 cup stock.
Continue adding stock in this manner, stirring constantly, until rice is mostly translucent but still opaque in center. Continue cooking until rice is al dente, but not crunchy. As rice nears doneness, watch carefully; add smaller amounts of liquid. The mixture should be thick enough that grains are suspended in liquid the consistency of heavy cream. The risotto will thicken slightly when removed from heat.
Add dried mushrooms and mushroom caps; warm over low heat. Remove from heat. Stir in butter and Parmesan; season with salt and pepper. Divide among four bowls; grate Parmesan over risotto. Serve immediately.
If you prefer a more subtle mushroom flavor, omit the dried mushrooms, and add 2 more ounces of fresh mushrooms.