Dull, the picture was directly converted from RAW to JPEG without retouches, the exact one if it were directly taken in JPEG on my camera.
If you are (or are aspiring to be) a photography enthusiast who owns (or is planning to buy) either a digital single lens reflex (DSLR) camera or a high-end consumer digital compact one and has yet to set it to take pictures in the RAW format, you are strongly advised to do so rather simply choose JPEG as your primary format!
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Nikon Capture NX 2 magic! The picture is netter when converted from RAW to JPEG with only after a few manupilation in NX 2.
Look at the two pictures above, the top one is directly convert from a RAW format without retouches which would be the exact same one if my Nikon D90 camera was set to photograph in a JPEG. It is so dull as there is much dark portion and a distracting orange dot. After a few retouches on the RAW image by using a trial version of Nikon's awards-winning Capture NX 2 software, a much more appealing version is immediately obtained. RAW pictures can retain as many details as a DSLR can as long as they are not overexposured, compared to JPEG pictures snapped under the same condition
There are already many books and magazine articles on the market addressing the advantages of RAW files, here don't repeat again. Go to have one, they are totally worth of a reading.