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As Photoshop is a pixel editor then the resulting file has to be a TIFF or PSD. However.....
When you are in Lightroom and you choose to edit in Photoshop use Open as Smart Object in Photoshop
That way you can double click to open the Smart object and use ACR to further edit the RAW file within it . ACR has the same RAW adjustment engine as Lightroom.
Interesting... Thanks for your insight. Will give that a try.
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Dave's response is spot on. As part of my standard workflow, I make the bulk of my adjustments in LR and then, when/if necessary, edit in PS.
Yeah me to, Ps for using layers or better cloning ability.