I allways shoot RAW, 1''%. I only shot Jpeg few times when I had 2 cameras and I forgot my back-up camera on Jpeg. Since then, I allways check my camera settings to be RAW as sometimes my girlfriend uses my camera also...
RAW just offers the best possible information camera can capture. Is like you would shoot film.
Jpeg is much more like a Polaroid if you want to use that parralell... Naturally, you can still process jpegs but the amont of "alteration" a jpeg can get is much less than RAW in order to acieve good results...
RAW just offers much more information and tolerate much better advanced post processing which, most of the times, equals better final image.
Hdd storage space is an important drawback for RAW's but again,HDD's are so cheap.When comparing with PSD or Tiff, needed when you postprocess a lot and in repeated stepts , RAW files are still acceptable...
COmpare to film and developing costs and you'll find HDD is much, much cheaper.
Larger memory cards needed and burst speed is another weakness of RAW but again, I have never felt sacrificing quality for speed.
Third RAW weakness is processing/exporting speed....that is a tough one...If you need to deliver the images in very short time, developing hundreds of RAW files can be a pain ...I do not bother and anyway, if I want Jpeg without any processing, LR can do it for me in decent amount of time...Just hit a button and drink your beer and is done...
Overall, RAW is the way to go for me, no matter I shoot for a client or I shoot "crap", you never know when a "crappy" image, meaning not important, might become a treasure , a family memory or something like that. I could not forgive myself if I could not print such an image to the best possible quality just because today I have been lazy and didn't want to spend some HDD space and 5 seconds in LR for exporting..
Funny, few of the best images I captured in my life, the once in a lifetime ones, happened in those very few situations when I shot Jpeg...I can't say how much I hate myself because I do not have the RAW to process them the way I like and they way these images deserve...A picture of my grandmother, she is not with us anymore, a picture of my dog I can't replicate, etc...
Jpeg is just like a printed picture, why would anyone throw the film away?
Yes, I keep everything I shoot, even the bad technicall images sometimes...Now they are trash, God knows if some day among that trash I will find a little diamond...
I advise everybody to shoot raw, after a while you'll find dealing with it so easy...If you need jpegs just shoot RAW+Jpeg...store your raw's without even looking over them, is a damn cheap HDD after all, use your Jpegs from the camera now and then erase them....If you will "ever" need again those images, the raw's are there, on a silly HDD ...
PS: a simple example, not a great picture, a simple snapshot probably BUT for me is valuable...It was just a simple relaxing Sunday evening after a day spent outdoor near the forrest...My dog started toplay, I grabbed my camera i allways carry with me, never thought it will be something special, didn;t check the settings, just shoot...
Home I saw it was only Jpeg...Tried several times to process this image in order to print it as it would deserve, tried to alter the colors, tones, saturation to acieve what i would like...I never was satisfied especially knowing how i have been able to correct much worst technicall ones from RAW...For only this picture, in my case, i would spend money for 1' HDD's if i could have the RAW version...Unfortunatelly, not possible BUT i wil never make the same mistake again, that would mean i am really dumb...