Whatever you do always keep the RAW file. A RAW file should be considerably smaller than a 16 Bit TIIFF file. RAW files only store luminance values, and even if the 12/14 bit values are each stored in 16 bits you only need one word per pixel in RAW compared to 3 words for an RGB file. Add to that that most RAW formats use a lossless compression system, as can be applied to TIFF so the TIFF won't gain much there.
As well as file size, only the RAW file will allow you full versatility if you later want to make major adjustments to exposure or colour.
Personally I just go with Adobe Lightroom (4.4 currently) as my combined DRM/RAW development workflow, sending images out to Photoshop (CS5) when I need any additional pixel level/layers editing (probably less than 10% of images). The edited .PSD files go back to the LR library along with the other 90% of files that stayed in LR for processing.
I also only generate "output" files as and when they are required. I do not store any JPEG files on the computer at all. It is just so simple to either use the Export function, or one of the other output modules, such as the print module, to produce the required output. If I have had to produce a JPEG file locally then once it has been used it is deleted. This ensures that the latest version of any image is always used.
Alan