You bring up a good point. I figure I'll also share that I learn two important things regarding post-processing JPEGs to keep in mind for any considering it.
1) Oversharpening... the Pentax's in-camera software actually does a very decent job of sharpening. It does however use a small radius. If one want to accentuate the darks as I did in this photo above, to really bring-out the wires holding-up the antenna on the right, that's best done with a very large sharpening radius. I think I used 2.5 in this photo. I usually only use 0.7 - 1.3. Other then that, even applying light, small radius sharpening to a JPEG in Lightroom will just be too much sharpening of the JPEG.
2) Hot pixels... My camera with over 20,000 activations suffers from it terribly it seems; use a long shutter speed and I'd say I get 100's if not thousands of hot-pixels. And the Pentax in-camera conversion doesn't eliminate it at all. It keeps the seriously 'off color' hot-pixel there, and you'll also get some pretty noticeable sharpening artifacts around it. (While the in-camera sharpening does well with normal subjects, a hot-pixel always gets a halo around it.) However Lightroom handles a super-bright off-color (both, when compared to all the pixels around it) single pixel hot-spots fantastically, and completely excises the hot pixel. If memory serves me well, you can't apply that noise reduction to a JPEG in that program, let alone undo the sharpening artifact that was caused by it.
