virtualStudio provides basic photoediting for common image-files, like jpg and tif, and some RAW-files. While not being a full-fledged RAW converter as Lightroom, it does the basic stuff for free and is in most cases more powerful and useful than the software which comes with your camera. There are two major advantages with virtualStudio - it comes bundled with maybe the best black & white converter software on the market - virtualPhotographer (which can also be downloaded separately as a photoshop plugin), and the application can be extended with photoshop plugins.