Canon's Digital Photo Pro is free from its web site, and it will handle all Canon's RAW files. Basicly you make the adjustments on the RAW file (saturation white balance, sharpness, contrast, and ect.) and then covert it to a JPG, TIFF, or whatever image file. If you don't like the result you can create a different (actually a verry different) looking image as long as you keep your RAW file.
-Laszlo- www.laszloimage.com