RAW conversion

[jorf]

OK, there is probably a really simple answer to this but I'm confused.

Various places talk about converting RAW files to JPEGs or TIFFs without changing the original RAW "digital negative". I just can't figure it out.

I have iphoto, view nx, and PSE8. Right now I'm shooting in RAW/JPEG.

iphoto tells me I don't need to worry about it - they do it automatically. But I can't figure out what they're doing. PSE8 opens RAWs in their camera raw window but the only thing I can see to do is to edit the RAW file and save it as a dng which PSE8 still won't open.

Also, various places talk about an imbedded JPEG in the RAW files. Does this mean I don't need to shoot RAW/JPEG?

As I said, I'm sure I'm missing some really basic piece of information - either I've seen it and not understood or I've really not seen it.

Please explain!

Thanks.

[OsmosisStudios]

When you edit a photo and save it from RAW to JPG, you never LOSE the RAW file. You simply create a JPG.