newbie here this may be obvious - will i be needing to buy profiles?
As Lisa said, Epson's provided profiles are of excellent quality. If you stick with Epson papers, you may be quite satisfied with the results.
Where things get more hit-or-miss is with third-party papers. Most of the manufacturers provide good profiles most of the time. Out of personal experience, the only papers I'd see an immediate need to have custom profiled are Moab's. They make their profiles using lower-end hardware and software than most (all?) of their competitors, and the results really show it (which does Moab no favors, as the papers themselves are quite good).
On the other hand, you may never see the shortcomings with your particular images, so it's worth at least trying any available profiles first. The cost of wasted ink and paper is still less than the cost of a custom profile.
what size paper do you use for proofing?
I like letter, as it's ridiculously inexpensive and easy to find locally if I need it right away.