Well I think it's about time that I finished writing the supplemental post to RAW vs. JPEG Part 2!
First up, during the JPEG cons segment I talked about how there is no going back to an original image state per se. In a way this is only partially true. As long as you keep a copy of the original JPEG file that came out of the camera, then you can always open it up time and time again and save it as a different file (e.g. Photoshop format) to edit it further; so you can in fact return to an "original image state" if need be. But, if you save the original JPEG file over and over again under the same filename, keep in mind that the quality will degrade; in a remote way, this is somewhat similar to making a copy of a copy, then a copy of that copy, etc. Each time you save the file, it is compressed again and again, and each time a little bit more of the image quality is lost (in all fairness though, there is a lossless JPEG type).
On the other hand, working with a RAW file is safer. For example, if I open up one of my Olympus RAW Files (.ORF) and hit save, then Photoshop displays a dialog box asking me to save the file in one of several image formats. So at the least, I cannot accidentally overwrite the original file. Now going back a bit to the "original image state" I talked about, remember too that the RAW file format isn't processed. Therefore, it preserves the camera's sensor data essentially perfectly, unlike the JPEG files the brains of the camera massages and manipulates to a state where you cannot rewind time to get at that precious primeval sensor data.
Next, I said in my video that I would write a little bit about dynamic range. Dynamic range is quite the topic of it's own, so I've included a couple of great links below which do a fantastic job of explaining it better than I could. Feel free to check'em out.
And lastly... I'm finding it somewhat challenging to add more to the second-half of my video where I discuss which format to use. Frankly, my hope is that whoever comes across my video or this post examines his/her situation and the pros and cons to both RAW and JPEG, so s/he can make his/her own decision about it. Plus, aren't digital cameras just awesome. I mean, unlike the good old days of film where you were stuck with a specific speed and type of film until you shot each exposure (or extracted the film before it was completed used up), with digital we can happily switch the sensitivity on the fly, shoot in black and white or vivid color, and even easily switch between saving our moments in RAW or JPEG format (or both!), all without having to change the fi... memory card. Brilliant! Isn't it?