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[Westside guy]

Not erroneous - as MacAnkka already pointed out, although you've already lost information, you should still resave your JPGs as something else if you plan on resaving them in the future (ie: if you want to make changes/tweaks). The JPG file format throws out information after every save, so if you keep stacking that compression on top of itself, you end up with a pretty bad picture.

No, you need to go back up and look at your original statement, the one I was responding to:

On a more general note, why is RAW capability so important to you anyways? It doesn't really seem like your needs warrant that. Just shoot in .jpg and resave as something else (Tiff, for instance)

Shooting in JPEG mode and converting that to TIFF is most definitely not the same as shooting in RAW. You're welcome to argue that you meant something different than what you said; but the obvious implication of your statement was that the two approaches are the same.