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Earlier this year I've done several same day slideshows.
I shoot raw+jpeg, tag images in-camera using "Lock" button as I shoot (or every time I get a 5min break while waiting for something, or when moving from one location to another) and then when everyone sits down for dinner I copy tagged jpegs only into LR, applying one preset which bumps up contrast a little bit, and hit "Play Slideshow". Takes about 5 mins to do. Impact is tremendous, I've received many many compliments and given out a lot of business cards due to these.
Because there is no editing involved, I had to learn to shoot really well in-camera. I owned my D700 for about 3 years now and this is the first year when I felt comfortable enough to do this. Couple of months ago I upgraded to D800 which threw me off big time and I'm now re-learning to feel it the same way I did D700. Not sure how long it'll take, I struggle a bit with its LCD/white balance/color correlation.
But yes, to answer your question - RAW+JPEG is the best way to go.