Mandrake said

1. Go to Google
2. Type in the search box "xmp file"
3. Hit Enter

Result:
http://photo.net/digital-darkr.....rum/00GPZi

Wow, Amazing we are sharing the same ideas

Result:
http://photo.net/digital-darkr.....rum/00GPZi

easyexposure said

I think it is totally up to you. If you are happy with Jpeg, you can delete Raw, but from my experience when I look at my old photos I always find something to improve. There also might be some interesting software in the future, for which you might need Raw files. You never know.
I keep all my images in Raw. I also like it because it is non distractive editing. I can always go back to the original.

Nowadays a lot photographer also convert their photos into DNG format, which is kind of like a raw format across the board. Unlike the RAW files coming out of the camera (different manufactures have different raw files), it doesn't has XMP files separately. Instead XMP data are imbedded into DNG.

Oksana,

Thank you Oksana, interesting reply leading us to another question! what is XMP ?!

Nowadays a lot photographer also convert their photos into DNG format, which is kind of like a raw format across the board. Unlike the RAW files coming out of the camera (different manufactures have different raw files), it doesn't has XMP files separately. Instead XMP data are imbedded into DNG.