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On my D3 it is setup at 14 bit uncompressed NEF without any speed issuesand serves me well . Compressed uses a non reversable algorithem that reduces the file size by 40-50% therefore increasing the number of shots available to take on a card.
Lossless compressed uses a reversable algorithem that reduces the file size by 20-40% giving you the same number of shots as uncompressed but quicker to buffer to cards. 
PS by the way theres nawt wrong with shooting in jpeg i use it frequently when shooting high iso images so there 
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