As far as I know, you lose only metadata. I convert some of my less valuable 
pics to DNG for backup archiving. The really critical ones are saved as PEF.
Paul


> So what is the final verdict on DNG vs PEF ?  What do I lose by converting 
> PEF 
> to DNG ?  Do I lose any picture information or just
> metadata, like which lens was used and other things I don't really need.  I 
> need 
> size reduction from 13MB to 5MB, that is a huge
> difference.  If I have to keep PEF-s then there is no reason to use DNG.
> 

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