I do both, but I only buy raw cards from sellers I know through trial and error that I can get the advertised card as advertised. Right now, that's about 3 sellers.
When I crack a card out I keep the label. Not sure why, but for some anal reason I hang on to it.
I keep a lot of stars raw, but I buy some graded, when I can get them at my price. I don't send raw stars in for grading...for obvious reasons.