From time to time, we use LiDAR data for modelling in ArcGIS. Previously, we would be supplied either an .xyz or .ascii of the data, but more recently, we are also being provided .las files in addition to the .xyz and ascii's. 

I was reading this [article](http://www.esri.com/esri-news/arcuser/summer-2013/5-ways-to-use-lidar-more-efficiently) which states *"Having lidar in LAS format may be obvious to the initiated but not to those new to using lidar data"* and *"It's binary, efficient, widely supported, and the format ArcGIS works best with"*. I am one of those people who fall into the category of new to using .las formats. 

Normally with the .xyz and ascii, I would use Global Mapper to convert them to a raster grid (for use within modelling) and it appears that I would also need to convert the .las file as well (being a point cloud). I guess the question that I am asking is:

Are there any benefits of using a .las compared to an .xyz or ascii if I still need to convert them to another raster format (GRID or .img)?