RawTherapee has the same features you'll find in pricey programs. It is a must for those serious about photography! Keep in mind that RAW formats vary among manufacturers. Also, different models can have different formats.
http://www.rawtherapee.com/
Hint: USE Adobe's Digital Negative Converter to standardize your RAW format:
http://www.adobe.com/products/photoshop/extend.displayTab2.html?promoid=DTEHA