I'm pretty sure I can make better decisions than a camera chip can make, even when applying them in batch. I normally look at the first picture, tweak the raw file to my liking, and apply these settings to all shots that were taken in this similar light. Move on to the next unique lighting scenario and do the same. I can batch 400 images in less than 10 minutes, and get much more detail than with 8bit jpgs.
I'm pretty sure you can too. I'm not sure about myself, and what if I batch process a couple hundred pictures with worse decisions than the camera makes.

Not an argument against, just pointing out that I do make mistakes.
Raw files capture 4096 tones while jpgs capture 256. This equates to much more shadow and highlight detail. MUCH more. By the time you get it to an 8bit jpg, you'll will have thrown some of this extra data out, but at least you have it there to play with, and decide where to place it. Shooting in jpg mode doesn't give you the option, ever.
So once I'm done processing the image, (in camera or in an editor) I still have an 8 bit 256 color JPG, no matter what I started with?
In the end, whether to shoot RAW or JPG is a matter of better control, and fine adjustments.
As for any argument about memory cards. The same reason I carry multiple 1 Gig cards. I can swap them in and out, depending on what I may want on that card. I can carry a card for my personal photos and junk and not have that mixed into what I'm shooting. I can swap cards for different locations at the same event, where I may be at one, then another, then another and back to the first. I can put a card in the reader and burn to CD, and go away while it's backing up, to take more pictures.
No I wouldn't load a 500 exposure roll of film, but I've been known to roll my own until the cartridge wouldn't let more film in.

Big deal 42 pictures instead of 36? Doesn't fit on the reels very well. Misguided ideas basket.
Same reason why I've taken three cameras to events, sometimes with three different films in them. Oh wait, one camera does it all with digital. One set of lenses and two bodies.
It makes no difference to me if I have four 1g cards or one 4g card, except when I look at the cost per card and what it costs if the card goes bad. Then I like the idea of flexibility and component logic. Big cards mean big problems, if something goes wrong. But I have to admit, the next time I lose pictures on a card, will be the first time. I don't know how common that is.
Heck I'm already collecting cast off 512 cards that I'm only using for carrying images to the store to print, the 128 and 32 mb cards are gathering dust. Some day I still want to own a 1D!