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Abobe Camera RAW version control - Create multiple versions of the same RAW file whilst using the minimum amount of disk space.
His tutorial of how to do this can be found here.
Although his tutorial is for Macintosh computers, conversion data can be stored as an XMP file on Windows machines as well, although there is no elegant way of saving multiple versions without Version Cue at present.
This can be especially useful for when you back up your RAW data as all your previous conversion settings will be stored in these files for you.
To save the data as an XMP Sidecar file on a Windows PC, go to edit and select 'Camera RAW preferences'.
In the drop down menu marked as 'Save image settings in', select Sidecar "XMP" files.
If you wish to create multiple versions, simply rename the XMP files. The one that matches your file will be the version you see in Adobe Bridge.