I recently needed to put about 400 photos onto my daughter's phone for her. I set up her 350D to shoot in RAW+Sjpeg, but even the small jpeg's would have taken up too much room on her card.
I found 'Instant Jpeg From RAW' through a member here (CDS maybe?), and it is awesome for flat out conversions and resizing.
What it does is it pulls the embedded jpeg from the RAW file. That's it. It doesn't allow for editing or anything, but it does allow for resizing. It takes less then 1 second for each file to be created. It was perfect to convert the RAW files to small (480 max) jpegs, and did all 400 in about 6 minutes, without taxing my system.