Congrats!
I usually shoot RAW+JPEG, this gives me the flexibility to just go with the JPEG if I'm satisfied, or tweak the RAW to my heart's content if necessary. This works especially well for just vacation photography or family snaps, where I don't want to spend that much time post processing. SD cards are cheap these days, so storage capacity has never been a problem for me.
My JPEG settings are
Normal
Contrast: +2
Sharpening: +2
Saturation: 0 or +1
I'm pretty happy with the results. In fact, sometimes I've spent some time tweaking a RAW file, only to find that I like the JPEG from the camera better! Not sure if that says more about the K10D or my PP skills...