I've been shooting RAW ever since "it discovered me (or was it the other way around?)" a bit more than a year ago. First on my 60D, and now on the 5D3. As I shoot RAW+LJPG, it sucks up memory space quickly! (35-40+ mb/shot). My thinking has been shooting both provides a backup, in case of problems, and a possible editing shortcut if I need/want to.
I've adapted my workflow to make a 'first pass' using the JPGs only to dump the instant losers...under exposed, blurred, etc. I delete both the JPG and CR2 file for the losers on my computer. Note..I don't clear the memory cards until ALL my processing is done...just in case I deleted the only shot of something important.
As for setting WB in the camera, using a grey card works well. The problem is that in my shooting events at church, I may be in multiple rooms each with different lighting. Some areas are flourescent lit, some incandescent, and a few I haven't figured out yet. Needless to say, WB under flourescent lighting is a complete nightmare (no flash, my preference). Even looking at multiple RAW exposures in LR4 taken of the same group of people 1-2 seconds apart shows radical WB shifts. I've even tried AWB under floursescents, without success.
But, as mentioned above, for 'casual' shots, generally for my own purposes, I switch to LJPG only, to save space and time. Most of the time, SOOC is good enough, but sometimes a little Photoshop doesn't hurt.