I have just tested iPhoto 5 concerning its claims to manage RAW images.
My conclusion is that iPhoto DOES NOT manage RAW images, it just converts them.
If you add a RAW to your library, iPhoto immeadiatly converts it to JPEG. Then iPhoto stores the 2 files. The RAW (in Orginals folder) and the JPEG (normal folder).
From then on, iPhoto will just use the JPEG image for all other activities.
There is no way to return to the original. Even using the "return to original" does not recover the RAW image.
Furthermore, why store the RAW in the original if there iPhoto does not use it again?
My conclusion is that iPhoto DOES NOT manage RAW images, it just converts them.
If you add a RAW to your library, iPhoto immeadiatly converts it to JPEG. Then iPhoto stores the 2 files. The RAW (in Orginals folder) and the JPEG (normal folder).
From then on, iPhoto will just use the JPEG image for all other activities.
There is no way to return to the original. Even using the "return to original" does not recover the RAW image.
Furthermore, why store the RAW in the original if there iPhoto does not use it again?