Actually, I normally render to the PSD format, but when doing composite renders, I tend to select TIF for the layered elements as the final render automatically comes out with the transparent areas knocked out. It's like selecting the alpha cannel and deleting the ground/sky areas, but without having to do that.  I'm not sure if that's how it's supposed ot work, but that's how TIF's have always come out for me, even when you don't include alpha information.

It's not a huge deal or anything as I can easily just include the alpha information in the PSD file and knock out the assets, but  was surprised to see that Vue 7 was rendering TIFs as grayscale, sometimes squished and almost always with vertical lines in them. Go figure :)