#1 Not really, if you've captured into or transformed into sRGB, you've cut those colors that existed in the camera out. You can't regain them just by going to PP RGB. and editing the colors by slamming the saturation won't be optimal. Once gone, they really are gone–it's far better to start in PP RGB.
#2 true for the first part, not really for the second part. PP RGB is the only color space in ACR or LR that can contain the colors your camera can capture but the camera color space and PP RGB are very different.
#3 correct, heck, about 13% of the colors in PP RGB aren't even real colors they are imaginary for the purposes of containing the real colors.
#4 Sorta...high-end printers can indeed print colors outside of the gamut of sRGB or ARGB but there are other color spaces that may be able to contain those colors. However, it's moot since in ACR and LR, PP RGB is the only color space that maintain the camera color gamut.
#5 If you are going to use PP RGB, be sure to do post in 16 bit/channel or above (you didn't ask that but I answered anyway).