RAW photography is phenomonal, it just can't be compared to any other form of digital capture. Gone are the days of lossy compression like JPEG and many others. After discovery of the flexibility of RAW photography, my shooting process and post processing workflow have dramatically simplified and made my life easier.
This is largely due to two things my Nikon D90, a fantastic camera that offers great performance in a resonable form factor, and my newest favorite tool, Adobe Photoshop Lightroom.
Lightroom combines all of the amazing capabilities of Camera RAW, a plug-in for Photoshop that allows the modification of RAW settings like white balance, exposure and sharpness, and the file management interface from Adobe Bridge that makes organization and cataloging of files much easier.
I suggest you throw away that JPEG shooter and get a camera with RAW capabilities and Adobe Lightroom, I promise you'll never look back!