Here we go again - demanding the best possible IQ and mps - and then suggesting using jpeg which degrades the IQ as soon as any pp is done.
Shooters taking candids/sports/wildlife/birding CANNOT guarantee to get the perfect exposure everytime so as soon as they touch the levels - oops there goes the IQ.
And then there are those that haven't got the right filters, or need selective light adjustments etc etc
I would suggest there is a place for jpegs out of the camera - but it is a small, niche market and should be avoided wherever possible where IQ is important.
I think you hit the nail on the head.
I always shoot raw. That said, I recently shot a wedding where the couple wanted to put the ceremony/portraits in a slideshow during the reception. Jpeg to the rescue! Raw to CF, Jpeg to SD.
Also, I want to note that now with my 5d3, im ALWAYS shooting raw to CF and Jpeg to SD as backup. Yes, the buffer fills faster, but I dont care. Jpegs are small enough to fit thousands upon thousands of photos on one card, so I can basically keep my sd card in there all the time, from shoot to shoot, without formatting or removing it. That way if something unfortunate were to happen to my CF card, or (not that it ever happens) if i accidentally format the wrong CF card, the jpegs are safe and sound. Plus, if I shoot a couple photos and accidentally delete one that i wanted to keep, (not often, but it has happened) then the jpeg is still there since it only can delete from one card at a time.
If I took a trip somewhere and i was going to take 10k images, I would still shoot raw. Call me crazy. Then again, I have an overclocked beast of a computer to power through the processing, but yea. Thats just me.
Oh and to the comment about the camera applying certain processing to the photo to make it look better than an unmodified raw output... Lightroom has presets, so it can do the same thing upon import. The camera applies settings that lightroom doesn't have access to? Use a third party lens. Lightroom knows tricks the camera doesnt then!
So yea, both formats have their merits. Different strokes for different folks. NUFF SAID. Capisce?