We are still dealing with first generation RAW converters, but the results are very good except when viewed at 100%—standard operating procedure with gear-heads, but unknown among those who appreciate photography. The near invisible defects will eventually go away.
What is truly important with shooting RAW is that the photographer—not the camera, or arbitrary saturation settings with film names—is in total control of colour, saturation, vibrance, and all the other controls.
The full name of Fuji is "Fujifilm". Where another company may have a preset for "vivid", Fuji marketing calls it "Velvia". They label "normal" as "Provia" and "muted" as "Astia". If you still firmly believe in the Tooth Fairy, this is a big feature. If you believe in your own eyes, it is at best a short-cut that you can later fine tune.
Shooting infrared with a Hoya R72 filter—which works extremely well without having to get the camera modified—gives a quite accurate preview of the image if you use the monochrome settings. However, the RAW version looks like a colour negative with the image reversed. The joy is that you still have all the controls of ACR when doing the monochrome conversion.
Film simulation is a useful feature up to a point. However, if you are a photographer, you will use Lightroom or Photoshop to fine tune the colour to your own taste and sensitivity for that image, rather than accepting with faith the bright idea of a marketing executive who came up with the idea of marking presets with the name of Fuji films—however loosely they may apply.
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larry!
http://www.larry-bolch.com/