... The real debate is whether whatever "A.I." Topaz uses in its application is good enough to ingest a JPEG file and output a result that has equivalent photographic quality to a well-processed true raw file...
Correct, Mark, that is absolutely the crux of the matter.
It shouldn't be too hard to design that test:
1. set the camera to raw+jpeg
2. shoot several scenes under varied lighting conditions, e.g., deep shadows, bright highlights, light source of various temperature, etc.
3. process raw files to taste
4. send the jpeg to J2R
5. further process it to taste
6. compare the results
That should determine if J2R is capable of:
1. recovering the shadow/highlight detail and to which extent, relative to raw
2. correcting white balance and to which extent, relative to raw