user11909: So hard drive capacity is not a concern for me.
I just would like my videos to render instantly.
Is there a way to edit in raw in FCP7 or some other video editing software?

user17716: RAW files are also known as digital negatives and therefore cannot be used directly for editing video or other purposes. They must first be processed.
To process them you will additional software. And this will depend on your needs. From which device did you get this RAW data? To which format would you like to convert it? 
For example, if you use the 5K video camera RED Scarlet Dragon, then you RAW files would be in REDCODE raw format.  
To convert this to readable format you may use REDCINE-X raw viewer which, by the way, spits out in playable ProRes files.
Finally, you can take this into Adobe Premier Pro to do your editing.
To conclude it would all depend on your needs and why you would like to work on RAW files in the first place.
Check these links for more info:

List of RAW Formats.
Video Workflow: Using RAW Files.
RAW files processing by extracting DNG frames.
Importing RAW files in FCP.


11909: <p>So hard drive capacity is not a concern for me.</p>

<p>I just would like my videos to render instantly.</p>

<p>Is there a way to edit in raw in FCP7 or some other video editing software?</p>
 17716: <p>RAW files are also known as <em>digital negatives</em> and therefore cannot be used directly for editing video or other purposes. They must first be processed.</p>

<p>To process them you will additional software. And this will depend on your needs. From which device did you get this RAW data? To which format would you like to convert it? </p>

<p>For example, if you use the 5K video camera <em>RED Scarlet Dragon</em>, then you RAW files would be in <strong>REDCODE raw format</strong>.  </p>

<p>To convert this to readable format you may use <em>REDCINE-X raw viewer</em> which, by the way, spits out in playable <strong>ProRes</strong> files.</p>

<p>Finally, you can take this into <em>Adobe Premier Pro</em> to do your editing.</p>

<p>To conclude it would all depend on your needs and why you would like to work on RAW files in the first place.</p>

<p>Check these links for more info:</p>

<ul>
<li><a href="https://en.wikipedia.org/wiki/List_of_codecs#Lossless_video_compression" rel="nofollow noreferrer">List of RAW Formats</a>.</li>
<li><a href="https://www.bhphotovideo.com/explora/video/tips-and-solutions/video-workflow-using-raw-files" rel="nofollow noreferrer">Video Workflow: Using RAW Files.</a></li>
<li><a href="http://www.magiclantern.fm/forum/?topic=5654.0" rel="nofollow noreferrer">RAW files processing by extracting DNG frames.</a></li>
<li><a href="http://www.rippletraining.com/articles/2015/01/28/importing-r3d-raw-into-final-cut-pro-x/" rel="nofollow noreferrer">Importing RAW files in FCP.</a></li>
</ul>
