Raw Vs Jpg

I did a simple experiment to show the advantages of RAW processing and to show the limitations of dynamic range on the T2i. I took 6 images with my T2i, saved as RAW + Large jpg, of the same coin from 0EV to -5EV in 1EV steps. On the RAW images I adjusted the black and white levels to give 8-bit dynamic range and to set the brightness of the background as equal as possible from shot to shot. On the jpgs I used two methods to equalize the images:
1) Adjust brightness to bring up the background levels same as the RAW image. The reference was the 0EV image.
2) Adjust brightness to bring up the brightest areas of the coin, and gamma to bring up the darkest areas of the background same as RAW image.

Here are the images, starting with 0EV reference image, which looks the same whether RAW or jpg



Now RAW first, followed by jpg brightness, followed by jpg brightness + gamma

-1EV





-2EV





-3EV





-4EV





-5EV





It seems that photobucket (or perhaps my browser, or the CC site, I am not sure) is doing some levels adjustment upon upload because the RAW 0EV and -1EV backgrounds are darker than in my editor. However, I think this still shows the differences pretty well.