Originally Posted by
DanK
In may cases, you will see the same colors in editing regardless. For example, lightroom works in prophoto RGB, but it does not try to display that on the monitor. You can see this easily if you export to software that does not take the embedded profile into account. E.g., I stack in Zerene, which does not adjust the display. When I export ProPhoto TIFFs to stack, they display with odd colors in Zerene, but they look perfectly normal when I bring them back to Lightroom.
I always shoot raw. The main reason not to work in the sRGB space, I think, is simply editing headroom. You are less likely to produce artifacts in prophoto or even aRGB. My rule of thumb is to throw out data as late in the process as possible, whether that loss of information is caused by the color space or by lossy compression to jpeg. So, I switch to sRGB when exporting to the web, or on the rare occasions when I send off an image to be printed by a lab. When I print for myself, I do it in Lightroom, which takes care of the conversion for me without altering the file itself.