For general sharpening, Unsharp Mask is the way to go. Naturally, you can can go a lot further with a raw file exported to Photoshop as a 16 bit.
I've tried to use the raw sharpening but, frankly, I hate it. The artefacts are hideous, and toning it back leaves you with not enough sharpening.
For advanced users, I'd recommend taking a look the Inverted High Pass technique but missing out the High Pass part and adding 3.5 radius of Guassian Blur instead.
Another is Frequency Separation but hiding the blurred Low Frequency Layer.
All these techniques can be found online; YouTube, RetouchPro, Model Mayhem, etc.
Also, for those with CS5 and newer, don't ignore the new and improved Sharpening tool found in the Tools Palette with the Brush, Crop Tool, etc.
It has been vastly improved. Just make sure the Protect Tones box is checked.