RawHide For iPhoto
Free
Love to shoot RAW? Certainly it's the way to get the best out of your camera. The downside is that the files are BIG. Why keep those large master files around if the picture itself isn't amongst your best?
If your Library is bloated with RAW files you don’t necessarily need but can’t bring yourself to throw away, RawHide is the compromise you’ve been looking for. RawHide is designed to convert the RAW files you select into high quality JPEG files while preserving your metadata such as comments, ratings, and locations. RawHide will then tag or move the original to iPhoto's trash.
RawHide will also process your Photoshop and TIFF images. In fact, any image format iPhoto can handle will receive the same treatment by RawHide.