Edit them, then convert to JPG. Delete the RAWs that are not going to be JPG'ed (I know there shouldn't be an apostrophe, but JPGed looks... unnatural?).
At the end of the day I have RAW files in one folder, and JPG in separate folders: good photos go to "[Shoot Name]-QA" ("Quality Assurance" - yeah, I know...
), and other stay in a simple [Shoot Name].
I don't delete RAWs. Space is cheap, RAWs might be used some time later. If not... well, as I said, space is cheap.