Originally posted by dh4412 is the pentax raw software any good then, for raw? and what am i missing?
I can't comment on current warez, what Pentax included with your K5. My K20D came with PentaxPhotoLab3 (PPL3), a SilkyPix-based RAW developer. I shoot only RAW on the K20D and I run everything through PPL3, then take it to PaintShopPro9 (PSP9) for editing.
A RAW file is a PILE of data. Any JPG settings on your camera are included in that data, and can be used as the defaults or basis for development. If you like what you see in an image, just SAVE it as JPG, or maybe TIF if you have need for further processing into other file formats. And if you're not satisfied with the image... read on.
What do you miss? Well, all the in-camera image options are yours to tweak during RAW development. I shoot in AWB, and the white balance is nearly always WRONG, so I adjust color temperature. I might not like the contrast, saturation, sharpness, etc -- adjust those. Oops, I over- or under-exposed, and/or I don't like the amount of shadow detail -- adjust those. Hmmm, what would the picture look like in B&W with various filtration? Adjust the B&W effects and save different versions. Without RAW development, all those adjustments would be difficult or worse. RAW development produces better pictures, that what you miss.
BUT WAIT, THAT'S CHEATING!!! No it ain't. The sensor captures photons and generates all that data. Pentax engineers can decide how to interpret that data to produce a picture... or you can decide for yourself. The data is there for you to do with whatever you want. The camera is YOUR tool, not vice-versa. Make it do what YOU want. Produce the pictures as YOU want them to look. Don't be used.
PS: I also run everything from all my digital cameras and scanners through PSP9 for final editing. That might include just straightening and cropping, and/or distortion / perspective correction, and/or tweaking color, contrast, dynamic range, sharpness, whatever. And any further shooping I may wish: artistic effects, posterization, mirroring -- a multitude of tools are available. Remember, that's all this stuff is, just a box of tools. Bend them to you will.