CORRECT IN CMYK OR RGB?

We've been asked the question of whether to correct in CMYK or RGB a hundred times. As a general rule, we try to do as much color correction as possible in RGB mode, and if we're going to use the image on press, we only convert to CMYK at the end of the correction process. The main reason is that CMYK mode throws away data a lot of data and why would you want to correct an image with significantly less data than your scanner can capture? We want as much data as possible while correcting images, and when we're done, then we'll convert to CMYK (under Image, choose Mode) and toss the data that won't be used on press.