As far as I can tell with RAW shooting it saves all the sensor data. So theoretically it is taking the picture in each combination of settings that the camera has. With my Canon I can just with the preset settings have 36 options for the picture between the picture style (standard, portrait, landscape, neutral, faithful, and monochrome) and the white balance (daylight, shade, cloudy, tungsten, white flourescent, and flash) and that isn't including the color temperture setting or the settings under monochrome. If you shoot in RAW it should be the same light information if you have a color setting or a black and white setting when you take the picture.
BryanC it isn't just Sony I know that Canon has the same type of stuff in their raw converting program and I would say a large amount of certainty that the other companies do the same thing. I hope that answers your question BryanC.
~Gonzo13
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