It then applies the edits that you have selected, and if you're happy, it prompts you to save the changes as a new copy of the source image.
I don't believe this to be a replacement for NX or Photoshop, but more of a PHD style of functionality, hence my use of the word "fun" above. That said, it provides some very interesting potential for you.
Let's start with the source image. Michael Barry: D300, 85mm f/1.4, ISO 6400, 1/80 and f/4.5; aperture priority - 1.7EV, spot metering.

Next, I converted that image to B&W.

This is the same source image with D-Lighting added.

Finally, the same source image, sepia, and cropped.

I could have started with any of the newly created copy images and worked on them, creating further generational copies. The camera saves these as jpgs, and I presume quality issues would appear were one to proceed down that path far enough. I don't know if, had I been saving my files in tiff format, the camera would have saved these copies in tiff.
As I said, I don;t see this as a functional replacement for proper PP, but I can see that it may be useful if you want to grab a quick image to give to Aunt Mabel.
And on the subject of grabbing a quick image for Aunt Mabel, this also places a whole new meaning on the term "straight from the camera", and one can only but wonder what our dearly beloved friend, Mr EnergyPolice, would say about this functionality. I can only but presume that Michael Barry is actually suffering severe multiple personality disorder, as he is, all at once, full colour, mono, sepia, and d-lighting enhanced.
