Sounds just fine to me.
As for Photoshop:
You can soft proof on the original instead of making a copy. Then if you want to make output specific edits based on that soft proof, you can build adjustment layers and save them in a Layer Set. Name the set with the profile name and rendering intent. Then you can turn this set on or off. On for printing of course. You could build multiple layer sets per profile/paper/rendering intent. And you can drag and drop the layer set to other images to transfer those edits which may work as is or just need a slight tweak per layer.
Make the sharpening on a layer too!
All this is SO much easier in Lightroom IF you do a lot of this kind of work using Proof Copies (virtual copies with soft proof info and output specific edits) and print templates.