Seriously, thanks everyone. Nice to hear what's working for you guys.
To add some extra info to my process, which has changed a bit over the years. I have a tendency to write things weirdly, so let me know if it isn't making sense.
Using a wedding as an example.
1. Shoot the wedding (DNG files), import all files into lightroom.
2. Edit photos. Export as jpeg to "smugmug" - which lets the client view and download the shots. Also works as a backup of sorts (but in jpeg form)
3. Edited photos are exported as DNG to 2 backup drives. I've been exporting as DNG ideally so I can retain edits, but also still have flexibility in the editing as down the years I want to refine the image/change completely.
When I first started doing weddings 8'ish years ago, I'd always be short on resources, and media isn't as cheap as it is now. Also, at the time, I figured the files looked as good as they possibly could, so why change later, and I exported/archived as JPEG. Looking back on those shots, most are ok, but more often than not they're too sharp, too saturated, and sometimes there are just weird tonalities. (I edited on a calibrated laptop, but it was small, not hd, and not ips. Plus, you get better over the years)
But anyway, off topic.
It sounds like it may make sense to hold on to the original files, and learn this method.
Originally posted by stevebrot As for archiving using Pentax-generated DNG while retaining your edits, the most common approach is to back up both the original files and your LR catalog at the same time (make sure LR is closed during the backup). Doing so will retain both your original files and edit histories.