the pictures in my Pictures folder have been copied into iPhoto, (into an enormous invisible folder somewhere)
Nothing enormous or invisible.
Since iPhoto 7 (iLife 08) the old iPhoto Library Folder is now a Package File. This is simply a folder that
looks like a file in the Finder. The change was made to the format of the iPhoto library because many users were inadvertently corrupting their library by browsing through it with other software or making changes in it themselves.
Want to look inside? Go to your Pictures Folder and find the iPhoto Library there. Right (or Control-) Click on the icon and select 'Show Package Contents'. A finder window will open with the Library exposed.
Standard Warning:
Don't change anything in the iPhoto Library Folder via the Finder or any other application. iPhoto depends on the
structure as well as the
contents of this folder. Moving things, renaming things or otherwise making changes will prevent iPhoto from working and could even cause you to damage or lose your photos.
How the files are stored: You have three core folders
ℹ
Originals are the photos as they were downloaded from your camera or scanner.
(ii)
Modified contains edited pics, shots that you have cropped, rotated or changed in any way.
(iii)
Data holds the thumbnails the the app needs to show you the photos in the iPhoto Window.
See? No secrets.
I can be confident that they'll be backed up with Time Machine,
Yes, or any other Back Upmutility you choose
and they will remain in their original format (unless I edit within iPhoto),
Yes, as you can see from your look inside iPhoto
and, if I later choose a different photo management program, photos in the iPhoto library are still discrete files that I can copy using the Finder?
Yes, though the more correct way would be to export via iPhoto. Why? Because this will allow you to write any metadata you add in iPhoto to the files.
Regards
TD