Always a hot debate, here are some of my tests on RAW vs JPG. Personally, I shoot raw-only, as I believe it helps improve your overall results. Of course, it adds post processing time, so it's not something you want on 800 pictures from your vacation. If all goes well with the original shot (White Balance and Exposure I think) then there isn't a really a need for post processing IMHO. Then you get into the effects such as cropping, levels, cut & paste, etc, that post processing is also nice for.
These shots are just my personal tests to compare various aspects, and will hopefully grow time-permitting.