RAW va jpeg- here is my take.
RAW does have more dynamic range. But this is only important if the scene you are photographing has a high contrast range. Any indoor photography of models is unlikely to have high contrast scene.
RAW, because of the higher dynamic range does allow rescuing some bad exposures in post processing. If you are careful on your exposures, or bracket, this becomes less important.
I only use RAW if I am trying to expose a high contrast scene.
Also, RAW can have better color fidelity, since one of jpeg's compression schemes is to make two slightly different color areas the same color. This is only important if you have a way to print color accurately- well calibrated monitor and printer. My monitor calibrated fine- I have never been able to calibrate the printer accurately, and the default color settings just do not give adequately accurate results :-(