Does this offer RAW format?
No, it does not support raw. However, I love the camera. I took it on a trip to Costa Rica and several people on the trip who were using Canon or Nikon DSLR's thought my pictures looked just as good as theirs did.
For a camera that can fit in your pocket, I don't think there is anything out there to compete. I took it to a music festival and I used it to take pictures of the chords that the mandolin players were using. I was not able to see that detail using my binoculars. It also does pretty good shooting in low light situation.
I took some pictures of the moon. For that, I did use the digital zoom feature, but the detail was again better that looking through my binoculars.