I suppose if I got everything just right in the camera shooting jpg would save a lot of time but I'm not that good and RAW gives me a lot of freeway to correct my mistakes
Even though it's most likely true....I think that too many people follow this doctrine.
Shooting in RAW shouldn't be a crutch, to help you correct your mistakes. It gives you more options, more control over the processing of your images.
All digital images are shot in RAW...it's just that when set to JPEG (or on a P&S camera that doesn't offer RAW), the images are processed by the camera. By saving the RAW files, we are taking control of the processing and not leaving it to the camera to do for us.
Sorry for bumping this back, but while I was out this afternoon this article kept buggin' me and I'd like to add one more comment emphatically with an example.
Starting with what Mike said above, the RAW data from any sensor has to be processed. Either you do it or the camera does it. And here's my tag: The minute that processing job becomes the slightest bit tricky the camera will crash and burn. So if you embrace shooting only JPEGs you turn your back on any successful photos of more challenging lighting.
I had to dig back a way for this example because I just quit saving the JPEGs altogether years ago. I used to shoot with the camera set to dual RAW + JPEG -- but I was just wasting disk space. So here's a photo from 2009. It's nothing special, I spend a lot of time out on the river -- the Corps guys (U.S. Army) are buddies. Here's the Helen Tully doing some revetment work just below Rip Rap Landing. And here's the straight out of the camera JPEG -- no crop, no edit -- all I did was size it and give it a light sharpen for screen display.
If you check the EXIF data you'll see that I took the photo with a -.3 exp. comp. dialed in. Why? Look at the lighting. The scene is side to backlit and the boat is white. I saw the clipped highlights coming and reacted appropriately. As it is the camera JPEG engine clipped the highlights anyway. If I hadn't added in the exp. comp., the highlight clipping would have been extreme. At the same time the JPEG engine blocked up the shadows. It's high dynamic range lighting. Sidelight is very high dynamic range and backlight is worse.
CRITICAL POINT: There was no camera setting either auto or manual that I could have used that would have caused the JPEG engine to succeed. There is no getting this right in camera! The only thing the camera JPEG engine could do here was screw-up and it did. It clipped the highlights, blocked the shadows, botched the midtone response and went plain south on the color of the sky (JPEG engines turn overexposed skies green).
Trying to repair this JPEG would be a nightmare. There's no miracle software that's going to salvage those blocked shadows in an 8 bit JPEG. It belongs in a trash can.
But I have the RAW file and processing that RAW file was easy enough. Still a tricky photo, but nonetheless very workable:
The sky is blue, the shadows are not blocked, the highlights are not clipped, the midtone contrast is normal and I can give this photo to the crew and not be embarrassed by it.
So, if you want only JPEGs SOOC you can't shoot lighting conditions like this. Your camera's JPEG engine can't do it. You'll have to fix the lighting so you can get it right in camera -- a really big floating diffuser maybe? I know, off camera fill flash!
Joe