I just spent 20 minutes with Canon support and they tell me that all in-camera files, including RAW, are in sRGB color space and can only use Adobe1998 or larger color spaces by conversion, in other words, they can never be better than sRGB.
Gee I'm not sure about that advice Frank. My understanding with raw files in general (and I don't see why the G3 would be an exception), is that there is no "standard" colour space such as sRGB assigned to a raw file in camera and you can assign any colour space that is available in the raw processor. eg in ACR you can assign colour spaces such as sRGB, Adobe 1998 or ProPhoto RGB.Dave
LenRentals staff says that all PowerShot cameras are basically sRGB devices.
The reason I questioned this is because when the .CR2 file is opened in DPP4 (latest update) is shows the file as sRGB
.... When I examined .CR2 and biggest JPEGs shot simultaneously the only difference I could see between the 20 Meg and 9 Meg files was a slight bit of sharpness....
Of course, since you are looking at essentially the same thing.