I understand the need for being able to manipulate RAW files in PM. However, let me voice a concern learned from other tools with RAW conversion capabilities. This is not meant as flame-bait, just a different perspective.
I am currently licensed for Bibble Pro as well as Adobe Capture Raw via Lightroom. Every time a camera manufacturer comes out with a new RAW-capable camera, every software developer must go through a release cycle to enable the new camera in their software. A LOT of programmer cycles are spent enabling this new capability then regression test/fix the code base. This time could be used for other feature/function development (like the image catalog tool!). From my experience, every time you open a code base for change, you run a significant chance of introducing NEW bugs that have to tracked down and fixed (then regression tested prior to release). Also remember the challenges software vendors had enabling Canon 40D RAW support in a timely manner and imagine the extra time / effort Camera Bits would be incurring for just keeping up with camera manufacturers.
Bottom line, I am not a big supporter of introducing that many software releases plus overhead into PM. When I shoot in RAW, I accept the additional overhead of using the other tools (including the additional time) and let PM do what it does best in the ingest, annotate, sort, cull, and burn of images. Anything that decreases reliability and performance or significantly increases the footprint (bloat) of my most important software packages is something that has to be watched very closely.
Just my $0.02 worth.
-Mike