That leads me to another (2-part) question:
Does the RAW functionality seem to come through plug-ins (like in Application Support or within the .app's Contents), or have you heard of Apple publishing an API to write more RAW converters?
Because I would imagine that Apple would prefer its coders to expend their time on adding support for future cameras instead of older ones. On the other hand, Canon's PowerShot G2 and G3 are immensely popular (as I'm sure are some older Nikons, Sonys, etc.), and it wouldn't surprise me if some users out there wanted to write an iPhoto 5 converter for 'em.. So, you got any dirt?