I think I've mellowed a bit since I wrote that

Blimey, I did go on a bit!
Truth is a lot of people get more out of shooting Raw, so good luck to them. But I still say that if all you do in post processing Raws is tweak the levels in the same way as you adjust the Picture Styles presets for JPEGs then Raw is a waste of time. But of course, if you do more than that for whatever reason, then Raw will always have more scope. And what is a bit of memory these days.
I've recently come across another thing about people using Raw to correct white balance, and that is if you do not get the white balance at least approximately right in shooting then you run the risk of a lot of noise when you correct the Raw.
TBH I've not experimented with this, and it may even be a camera specific thing, but the theory runs like this. If you shoot an indoor scene under artificial tungsten light, and the white balance is way off, then the blue channel will be badly underexposed,
You are often unaware of this, as the regular histogram is generated from a JPEG tagged to the Raw file (even when you shoot Raw only) and it looks okay. But if your camera can show red, blue and green channel histograms, you will see that the blue channel is way down unless you get the white balance right before shooting. Sure you can boost the blue in post processing, but if there is bu99er all signal there to start with, you get a lot of noise.
To see what I mean, just shoot a plain white wall, once with the white balance at max, and again with it at min Kelvin colour temperature. And why not do one at normal colour temperature for luck. In both cases (or all three) the general histogram looks identical, but switching to red/blue/green you will see the red and blue channels are dramatically cut/boosted (with the normal shot, they will all be equal) and, I believe, these levels are also adjusted in the Raw (or not, if you haven't bothered to get the white balance anywhere near right).
Anyone care to comment on this? Now I've gone on again.