Specifically, he lays out the trade-offs between PhotoRaw and the other guys - which is that PhotRaw takes a long time to import images because it does as much as possible up front, but then provides real-time adjustments to exposure, etc, whereas the other guys import faster, but then don't allow real-time adjustments. First time I've seen a clear discussion of the differences.
Update Dec 2011 - Note that while Rob's article is still interesting, the version of PhotoRaw now available has come a LONG way since Rob wrote his review, addressing several of his concerns such as white balance adjustments, etc. Best thing to do is to try the free version PhotoRaw, PhotoRaw Lite.
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