You should always get the picture as best as you can in camera regardless of what format the image is saved in. Where RAW gets a bad rep is when people start saying you don't have to worry about this or that when taking the pictures. Yes, the WB can be easily altered with no loss of quality prior to saving in another format, but that isn't reason not to set the correct WB. If nothing else it's a setting you don't need to change during the conversion. Yes, you can recover detail that may have been lost in an overexposed Jpeg, but again, that doesn't mean you shouldn't get the exposure correct.
And just because you shoot in RAW doesn't mean that every image needs editing, not only because not every image needs converting (unless you are the best Photographer in the World where every image is a keeper

), but also because if it looks good and doesn't need editing then it's just a direct convert and save. Most images from digital cameras require some sharpening and cropping at the very least, and if you're doing that, then converting the RAW file is not much more editing, and that is only if it needs more editing.
Why shoot RAW then? For me it is because that is the way to get maximum quality image out of the camera. It allows me to edit, should I need to, with the highest quality starting point which allows for the most versatility for the least degradation of any editing I do. You can edit a Jpeg, but it may have already been sharpened (with no regard for the subject), the colours and WB set, contrast setting applied, a 12bit or 14bit file converted to 8bit and it has also been compressed. Talking of the bit rate, an 8bit image gives adjustment over 256 levels, whereas a 12bit image gives 4096 levels. Yes, it may eventually end up as an 8bit image, but any changes in exposure, colour or WB will give smoother results prior to the change to an 8bit image.
Shoot with whatever you're comfortable with, but know the pluses and minuses for either format.
And don't forget you have RAW + Jpeg.

That's what I'm doing for my Canon S95 at the moment to see if there is a benefit to just shooting RAW.
