I tend to shoot RAW about 95% of the time. If I understand RAW correctly it records the image "as shot" with no adjustments or enhancements, just a recording of what the light shows. If this is true is there any reason to set while balance? What about Picture Styles? Do White balance or picture style settings have any effect on RAW images?
thanks

White balance and picture style are recordwd in the exif information for processing later by DPP if you want them

And they are BOTH applied to the embedded jpg which is used for review and to create the histogram - and can both affect the apparent 'exposure

When you open a CR2 in DPP, it will be initially presented on the screen with your shot's WB and picture style settings applied.