Kirk,
Sorry about any misunderstanding. When I used the term raw I was referring to the type of file, not the fact that is was fresh out of the camera.
Just to clarify what actually happens. If I take a .nef file and rotate it in the browse window of Capture NX then that photograph shows as rotated in PM with the soft rotate icon . It also shows as rotated in Nikon View. However, It does not show as rotated in Windows Explorer!! So I am concluding that NX, in this instance, is not rotating the internal preview jpeg in the nef file but is setting up the soft rotation tag that is missing from the original D100 file. Furthermore, Nikon View understands this soft rotate flag as set by NX because it also displays the preview jpeg correctly rotated. Also it must be a common tag in a standard position or otherwise Nikon View would not understand it in a D100 nef file. Since my copy of Nikon View does know about D80s, I guess this must be a common tag used by the D70s onwards.
So my point is ... should PM not also set this tag to do a soft rotate?
Just to complete my observations, the situation starts to get slightly confused if the nef file is edited in NX and saved because then the preview jpeg is hard rotated and the soft rotate tag is reset. Windows Explorer also now shows the preview jpeg rotated and PM no longer shows the soft rotation icon. However, PM can still soft rotate the nef file, so that ability is not lost.
Thanks for your help,
Ian