Both the 10D and the 300D always save a jpeg embedded in the raw file (as well as the thumbnail). With the 10D you get to choose what quality the jpeg is (from the normal jpeg size/quality set), with the 300D you can't choose the size/quality.

I guess this should mean that to get the jpeg with the in camera settings from the raw should be nice and quick. I haven't found and software that will just allow me to extract these jpegs in a batch mode.

I wish Canon had done it differently, by saving the raw and the jpeg as separate files. I think they do this on their more expensive cameras.