And as for "full" raw...
Maybe that's something a large lion does, but I've never heard of the term before. It sounds more like hype than anything specific.
The question is, Where do you stop? OK, Adobe Photoshop CS6 can read 32-bits-per-channel files, but what camera produces that? I suspect it's for CMYK files.

For comparison, a jpeg file can only hold 8 bits per channel, or 256 tones per R G and B channel. So if you're shooting jpeg only in the camera, you are compressing all the tonal information into narrower bands.
If you had a range of colours, like in a rainbow, a jpeg could not distinguish between and record as many hues as could a 12- or 14-bit raw.
Am.