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chas_m

 
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Member Since: Jan 22, 2010
Location: Victoria, BC
Posts: 17,048
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Mac Specs: 2012 MBP, Black speakers, Black Benq second monitor, black(ish) iPhone 5s, Black 2012 iPad, etc.

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Lightroom, like iPhoto, gives you the option of using a "vault" or just referencing the photos. At least when I fired up Lightroom 5 for this latest trial, the default was NOT to just reference photos, just like iPhoto.

I set it to just reference the photos as I am still testing it. There are things I like about it and things I'm not crazy about. But iPhoto also has the option (not on by default) to leave photos where they are and just use references.

The big differences to me (apart from the obvious interface changes and more advanced versions of the tools) is that Lightroom is WAY better than iPhoto at handling lots of RAW files (well, DNG files since it insists on only using Adobe's format) and as you say, it stores the record of what editing was done internally rather than creating an untouched "original" and edited version as iPhoto does.
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