BboH wrote:
So, would it be correct to say that a processed RAW converted to JPEG will have the same gamut of colors as a JPEG Fine?
No, of course not. The JPEG will, however, contain almost all of the colors that can be reproduced by silver halide photo paper, and all of the colors that can be reproduced on an average sRGB monitor (smart phone, tablet, laptop, notebook, desktop computer).
A RAW file can contain much more information than a JPEG file, but USING that information in a way that you can ACTUALLY SEE it is difficult.
Processing RAW sensor information, whether in the camera, or in software post processing, is really a matter of choosing what information to view. You can squeeze it, squash it, warp it, bend it... but in the end, it must fit into the gamut of the device used to display or print it.
It's a lot like audio processing. Raw sound isn't fit for broadcast, so broadcasters compress the dynamic range, enhance or "equalize" the frequencies that favor vocal articulation, and add digital delay to make things sound audibly more appealing.
You can do the same sorts of things with RAW images... Compressing the dynamic range of a digital image by using curves, "equalizing" the color balance of the image by changing white balance or curves or saturation, etc.
Whenever I am forced (or force myself) to work with RAW images, I usually go through a process of conversion from the RAW image to a 16-bit TIFF file, either in Lightroom or the camera manufacturer's software (I've frequently used Canon's DPP for problem images that LR doesn't do justice). Then, I can edit the 16-bit TIFF in Photoshop, and print from that to an inkjet, or convert to JPEG for external use (web, lab, whatever).
JPEG FINE is simply a manufacturer-defined file compression setting on a camera. It usually compresses data to somewhere between 1/5 and 1/10 the original 8-bit file size. It does destroy data, which sounds terrible, but in practice, isn't.
A JPEG FINE file isn't too bad, if you use it as-is, or edit it and save it as TIFF or a minimally-compressed JPEG. When you edit JPEGs, always avoid saving them more than once or twice. I usually open, convert to TIFF, edit to my taste, save as TIFF, and save again as a JPEG to use. If I need to re-edit, I edit the TIFF and save another JPEG.