Another questin along the same lines: I've been shooting RAW only for the last 8 or 9 years, and never gave any thought to an issue that now came up for me in teaching a friend how to work in Photoshop.
She uses a camera that only produces Jpegs, and has been saving her processed jpegs as Tiffs. However, is there any advantage at all to editing in Adobe RGB or Prophoto color space? And saving the images as 16-bit Tiffs instead of 8-bit?
My guess is that there is more headroom editing in the larger color space compared to sRGB and working in 16bit depth.