I've toggled Full Raytracing on and off for rendering and don't see a difference in the image quality. Maybe I already have my other settings at their max, or something. Does someone here have images that compare Full Raytracing used an not used for a rendered scene?

I think the difference is subtle. I remember an old comparison in which the example zoomed in on detail. I rarely use raytraced.

The only time you will see a major difference with raytracing is with highly relfective and refractive materials Close up

Also the non full raytrace will sometimes make parts of objects very close to the camera vanish. It was a little perplexing until someone on renderosity pointed it out to me. - Dex

The Full Raytracing is also required when the camera is inside the bounding box of an object, otherwise some triangles are discarded. I had the problem when the camera was inside an ArchiTools building. Julien