Is ACR as good as Photoshop for jpeg processing?

I have CS3 and use ACR 4.1 for processing my RAWs. I love it's intuitive easy workflow.
I have many many jpeg files from my pre-RAW days that I'd like to improve by doing slight adjustments i.e. crop, adjust tone, WB, set white point, contrast, saturation, colour tweaking,resize, sharpen. I do this so they can be displayed online on a Zenfolio or pBase account, NOT for printing.
I like ACR's workflow and myriad of adjustment options yet I wonder if it is a better platform for jpeg processing than Photoshop. For ease of use it clearly is, but what about end product?
For best results, Photoshop requires me to create a new adjustment layer for each adjustment. I DO speed up the workflow by creating Actions that convert the files to 16 bits as well as creating new adjustment layers upfront. I still have to apply batch processes to merge layers, resize, sharpen, convert back to 8 bit and save as jpg. But I still have to go in to each layer and make adjustments. ACR 4.1 is much easier because all the sliders are more easily accessible. But I wonder if it sacrifices results because I don't know if it is working in 8 or 16 bits. With ACR workflow is easier to recover shadow/highlight detail (though I am not sure if it is more effective).
For the best results am I still better off using PS for jpeg tweaking, despite its more cumbersome workflow, because I can work in 16 bits?
I really like ACR's workflow. But from what little theory that I do have it sounds like PS ability to work in 16 bits still gives it the edge.Or am I missing something here?

"...if you open a JPEG...it is converted to 16 bit, linear Pro Photo RGB for editing. It's been shown (by Lightroom) ...that the totality of the edits in CR are in linear ProPhoto you could see a real benefit to processing camera JPEGs (as apposed to already edited JPEGS saved out of like Photoshop) over doing similar edits in Photoshop."
This is interesting and good news! Now my grasp of all this technical talk is limited so bear with me if I am not up to speed. I just want to make sure I understand this.
ACR opens all 8 bit JPEGs automatically in 16 bit ProPhoto workspace BEFORE the actual editing is performed?
At the risk of hopelessly confusing myself even further, why would ACR be a better platform for JPEG processing with out of camera jpegs but not previously edited JPEGs?
Jeff, I know you've stated "it's beed shown by Lightroom" but can you show me this? Where has it been shown? A link, webpage? That way I can look at this myself, spare you trying to explain it to me and (yes this is pure self interest) hopefully free time up for you to work on the ACR 4.1 book I am looking forward to.
Thanks for the time you devote to helping us noobs pursue our passions!!

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    - another comment you may of made was 'linux users don't typically buy software'.   I think things have changed here.   I can say from my personal experience working in M&E studios for the last 15 years or so that Adobe would of had purchase orders for a few hundred linux cuts.   That is from 2 or 3 studios here in Town that I've been at.   How many cuts does Adobe have to think they need to be able to sell before the effort gets traction?    In 3 studios there was an effort made to roll the desk tops over to linux,  and its always the same road block which prevents many from doing so,  Adobe Photoshop.   Its used in almost every department so it makes it extremely difficult to move off of windows or mac.   Every one of these studios would be more than happy buying PS for linux post roll over.  If these 3 studios in town here would be good to buy 40-100 cuts each,  we are only 3 of hundreds or thousands of studios out there..   The first release may not sell a bunch as it would take people time to realize the final road block has been removed,  and plan for a migration,  which typically have to be scheduled weeks/months in advance due to project schedules.  But i'm sure with each quarter,  sales would continue to climb.     Aside from all that we spend _hundreds of thousands_ of dollars on licenses for products which will run on linux.    the industry spends money.
    - I ended up here on this page as yet again I find myself at yet another  studio who wants to move off of windows to linux for the desktop,  and we are seeing how/if the landscape has changed related to the Photoshop challenge.    Perhaps its the M&E bubble i'm stuck in that makes be believe there is lots of potential for PS on linux - but man,  everyone i've talked to in the industry (from ILM, Disney, Wetta,  Arc and many others) for the last decade or so has always maintained a desire to see PS released on linux.
    -  I wonder who these surveys you state which indicated there is little opportunity are being completed by or what the target audience is.  I've been in a management role for years and have never been asked by Adobe or anyone for that matter if I would like to see Photoshop ported,  or any 'survey' related to Adobe for that matter.   Who is being asked?    There is a forum named "Studio SysAdmins",  if one were to go to that list and prompt the question and I assure you,  you would have several hundred purchase commitments.  That forum is dedicated to people in M&E and many of them are chomping at the bit to migrate off of windows,  yet the common show stopper continues to be Photoshop - for the last decade or so.
    - Most of the open source flag wavers who state they won't buy commercial software are likely still stuck in their basements or just don't get it.   A company who is out to make a profit will use the proper tools to achieve that goal,  regardless if that tool is a commercial one.    some PFY in the tech department refusing to use PS because there is a cost associated to it would/should be turfed.   Some of the people piping up here probably have no decision making role,  but unfortunately they tend to be the most vocal.    
    - If Autodesk can do it,  Adobe can too! 
    - I'm being forced to consider some sort of remote to the desktop photoshop solution.  its going to cost us more per workstation to use PS than the product itself.  We have never had any luck using PS under emulation,  such as Wine.   it "works" but has many issues and i've never seen an Artist accept it.    Wine is not an option for most professional applications I suspect.
    - Adobe is out to make money,  they have lots of money.  I'm sure they could afford to test the waters without going under or pissing off the share holders.   There is always a budget for projects when times are good.
    - conspiratorial theories aside - M$ has been known (many times) to 'influence' vendors in ways which are attempts to maintain M$'s market share. They have been brought to court many times for related issues.   Apple not so much,  as far as I know.   I mention this its not a far leap to make when someone says "M$ has a deal with Adobe".     Personally I don't think this is the case in this particular situation but its  plausible.  Stranger deals have happened at the executive level in many companies.
    thanks for your time,
    take care,
    g

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