One isn't "better" than the other - different tools for different jobs. If you're getting the results you want with jpeg then I'd stick with it. Use the highest quality setting while you shoot, and save to the highest quality level if you do anything with Photoshop and you won't see any problems (at least with reasonable sized prints, 20x30's on up may be a different story).

That's my bottom line. I have a Nikon and use Capture NX, but have used Photoshop in the past. Learn what you can about it, look for on-line tutorials or maybe consider going to a workshop or community college class if that's an option. Rocky Mountain School of Photography has traveling weekend workshops which you might want to check out; they're very good.

Batch Processing would be your only choice if you see the advantages to RAW and decide you need them for your racing shots. Basically you set one shot and it converts all of them that same way, and then you can "tweak" individual shots if necessary. It'll take quite a computer to handle a lot of big files, and there will be a big learning curve.

But, it might be worth it (though I'm not fully convinced by your post). IOW, maybe you're at 90-95% results and to improve a little bit more would take a bunch of effort. It may not be worth it. Nothing personal and nothing against your work (haven't seen your prints anyway) and I'm sure your results are good. I'm just saying that to get just a hair more out of an image file will take a lot of work - not sure how else to explain...