I generally don't recommend using RAW format to anyone, specially. It is too space and time consuming to be useful. You literally have to work on every photo to bring out the best in it. Most of the times your camera's processor would do just fine.
However, there are times when there is nothing quite like it. My Nahargarh set is an example where RAW if very useful. It was dark and I didn't have my fastest lens on me. I decided to shoot most of them about -1 or -2 on exposure giving me quite a bit on the shutter speed allowing me to shoot at over 1/200th of a second which was required given how much I wanted to get inside the shot using the telephoto end of my zoom lens. Then bumping up the exposure in RAW upto 1 and often 2 stops is not a problem at all. This can be done in any decent tool such as Aperture, Lightroom or of course photoshop without any quality loss. It is not that you cannot compensate JPGs but they will lose quality and lose highlights much more quickly.