Need point and shoot camera
I can see the correlation between RAW and a high end compact, but I think you also have to understand that Raw requires post processing and there is nothing wrong with jpegs. RAW is not necessary.
Depends on the OP. MAny people don't even want or know what a RAW file is. I think you have to ask yourself the question - do you want to take a picture and than simply print it, or do you want to take a picture than download it to a computer than open it in a post processing program to convert it to another type of file so it can than be viewed on any computer and printed.
...when buying a P/S camera.
Oly's XZ-1 and Canon's S100 both shoot raw.
Raw is necessary to get the most out of your camera!
In some circles...Canon's S100 is rated the "BEST" point and Shoot camera on the market.
The S100 is also recommended in DPReview
The S100 shoots great in low-light if needed
Oly's XZ-1 shoots great in low-light