quote:It can, actually..
Just not sure what the advantage/disdvantage would be?
As far as my own experience goes, it's a matter of fast-access/sharability paired with post-hoc editability. One of the chief advantages of shooting RAW is that your images are to a large extent unaffected by many in-camera settings, such as white balance, colour settings, etc. (though settings such as aperture and shutter speed are still relevant). Thus, you can fine-tune your white balances and whatnot using your photo editing software on your computer, presumably with a large, high-resolution monitor. And, if you had your white balance set for "sunshine", and you shot in the late afternoon on a cloudy day without resetting it, you aren't stuck with odd looking colour balances. The RAW image can basically be considered the unmanipulated optical data collected by the camera's sensor, rather than a photographic image. It's the undeveloped film.
When you open your RAW file using Photoshop or GIMP, you're asked to change/confirm all the exposure, white balance, curves, etc., and then the program saves those settings as an associated file. If you want to get back to the original RAW file, without any settings or whatever, you can simply delete the little associated file, and start again from scratch.
With a JPEG, none of this is possible. Once the shot is taken, it's taken. You can still edit colour levels and whatnot, but you're editing colour levels on the processed JPEG image, rather than on the uncompressed sensor data. Shooting in JPEG is basically like shooting Polaroids (albeit high quality polaroids) rather than negatives that need to be developed. All of your darkroom decisions have to be made ahead of time with the JPEG. The image is created right there, and any subsequent edits are done to the image, rather than the unprocessed data.
The benefit of the JPEG, however, is that it can be opened by just about any photo viewing software (and it's usually a much smaller file). So if you have a USB adapter (or an SD card reader) for your phone or tablet, you can show people the JPEGs right away. You can also upload JPEGs to flickr or whatever. When I shoot artifact photos I shoot JPEG+RAW so I can hand whoever I'm working with a USB with the unedited images that they can look at it right away without needing photoshop or whatever. It can be kind of a pain to have friends over, and one says "hey, let's see the shots from your latest hike", and you have to say "OK, give me a few minutes to open all the RAW files and get the settings just right and then come gather around my computer" rather than just pulling out the iPad or whatever and showing the preliminary pics then and there.