What image quality mode to use?

Hi:

I have an Olympus C-50. In the past, with my D-40, I had always chosen
the SHQ (low compression) mode. But I've often wondered if I should be
shooting under TIFF (uncompressed) mode to obtain the highest quality
shoot for future printing and retouching. I've never considered
shooting under any of the other modes offered (HQ, SQ1, SQ2).

So my questions a

1) Is there really any noticeable difference between TIFF and SHQ
mode?
2) Any reason to be shooting under one mode vs the other?

Thanks


It's Mr. Rather B. Beachen to you