In my experience:
RAW gives you a lot more editing power. More work, but better results. More colors in RAW to play with for color correction. JPG gives you smaller images (more pictures per memory card) and sharper images, plus faster recording. RAW seems to come out blurrier, like image stabilization is off or lowered or something. This may be because of JPG processing in-camera that applies a sharpening filter, I don't know. It also takes longer to write a RAW file to the memory card because the file size is larger, so if you need quick shots, JPG is faster.
I shoot pretty much exclusively in RAW because I like having a lot of editing power. My wife shoots mostly in JPG (she shoots professionally on the side) because the pictures come out sharper and lets her take pictures faster. She shoots a lot of kids and familes (outdoor portraits mainly), so speed in both shooting and editing is important for her. There is definitely less data available in the color correction department, however.
So mostly it depends on how you want to shoot. If you want speed, JPG gives you an advantage. For me, RAW isn't that much slower, and I have more editing abilities later, so I opt to go with that. Plus if you want to edit a picture down the road when you have more time, or if you want to try a different picture style in Photoshop/Lightroom/Aperture/whatever, you have more original data to work with. Storage space is cheap nowadays too (2TB for $99), so storage capacity really isn't an issue anymore. Try out both and see what you like!