While the preview is an sRGB JPEG, I find that 80% of professionals I have shown them to cannot tell the difference between a 24 inch print made from the embedded preview and a print made from a 40 MG ProPhotoRGB TIFF file. It really is a great print.
I make the previews full size, which is the full pixel resolution of the original image.
While adobe is the only software that currently puts in the preview, anybody can do it since it is an openly documented format.
Peter et al-
Based upon the above quote, for the theme of this thread, please consider "all" of my workflow example below with an eye to the RAW file converter question.
1. I ingest RAWs from camera (Olympus and Leica) using ImageIngerster Pro. At the time of ingest, I (1) create a folder for the RAWs, (2) a bucket folder for DNGs with full size Previews (with IIp using DNG Converter and imbedded RAW) and (3) a backup folder with DNGs (again embedded RAW).
2. I then "ingest" the DNGs from (2) into Lightroom (leaving the reference to the system hard drive).
3. Then I use Lightroom as my RAW converter by making any adjustments to the DNG and eventually using Metadata>Update DNG Preview and Metadata to save any changes from the Lightroom database to the file.
When using Lightroom to print, I assume (from my understanding of your comments in previous threads similar to the statement above) Lightroom uses the full size preview with all current adjustments. And if 80% of the professionals coudn't tell the difference, that is good enough for me. In the rare cases when I needed to send something to CS3 (not my strength), I open the modified DNG and save the TIFF (or whatever) back to the appropriate hard drive bucket and sync with Lightroom. If I need separate JPGs for
Lastly then, although not specifically the spirit of this thread, Lightroom has replaced iView as my catalog program. I'm hoping updates to Lightroom will enhance (1) synergy with ACR, DNG and CS(?)3 and (2) database cataloging features. So, I'll sink or swim with Adobe (for now).