As was mentioned above, RAW is a lossless format while JPG, even at lowest compression, is lossy. So if you convert JPG to TIFF right out of the camera you've already lost some data that you'll never get back. This might not matter on smaller print size, but if you're looking at large prints RAW will offer superior quality.
Another major difference is the post-processing. With JPG you set the camera to process the image, taking your chances that the white balance and exposure are correct (or close enough, if you're good with Photoshop). With RAW you get exactly what hits the CCD/CMOS, with no onboard editing. This means you have to be prepared to to develop a RAW workflow to cope with images once they're out of the camera and onto your hard drive. Regarding the comment that RAW files offer a "rustic" look I would hazard a guess that you're not doing much beyond converting the files from RAW to TIFF or JPG. You need to also consider the fact that most cameras do some onboard sharpening to JPG files, while RAW files come out of the camera much softer and do require sharpening (but with all the extra pixel info they sharpen up amazingly well).
Another advantage of RAW is the wider tonal range that seems to get captured. It is
much easier to pull "lost" detail out of shadows in an image shot RAW. This is most easily done during conversion, and I find
Capture One DSLR Pro (supports only digital SLRs) the best but you can also use the Adobe Camera RAW (ARC) available as a plugin for Photoshop 7 or included with Photoshop CS, or the software that came with your camera.
The advantages of RAW are superior image quality and increased latitude in post-processing outcomes.
The disadvantages are longer write time to memory card, larger file size (I only became a 100% RAW shooter when I acquired some 1gig CF cards), increased post-processing requirements.
If you just need a quick photo go with JPG, but if you want the best image possible I have to put my recommendation behind RAW.
Heather