I shoot everything in RAW. I have PSE 5, and have a good workflow of tweaking all my RAW photos. When I finish 20 or so photos, I do a "Process Multiple Files" and used to save them at "Max quality". The finished jpegs are usually 6-8 MB per picture. I then started saving them at "High Quality" jpegs. Now the file size is around 1 MB. I haven't really seen a difference in quality, but the bigger is better mentality overwhelms me and thinks I'm losing something if they aren't at "Max Quality". Am I wrong or is there really no notable differences.
For what it's worth, I always keep my RAW files to be used or saved for later dates if needed. I'm more talking about having jpegs to print out if needed.