Thanks for the information and links.
I've been asking myself these questions a lot recently but in all the research I have done I have to conclude that this topic is entirely subjective and there is no one definitive answer. Whilst one tool may produce sharper images, another may produce better colours. The best tool isn't the one that creates the sharpest images or best colour depth, it's the one that helps you produce the best, or most pleasing, images and makes you the most productive. Each tool can compensate for it's deficiencies through some (minor?) manual control.