It doesn't seem to be the to me if the final output is a inkjet print, which is what I am working for. I don't think Epson can print to the Prophoto RGB color space based on the number of out of gamut softproofs I will get. Plus if you are out of gamut, then most times reducing saturation ruins the look of the image, thus all the time spent, and converting to Adobe RGB (1998) also seems to lose the look, where as working in the Adobe RGB (1998) space tends to give me images that softproof to the profiles for the 9900.
I'm not sure how you are soft proofing, which what application and on what display, but I gotta tell you that being concerned about out of gamut color warnings is a wast of time. In Photoshop and Lightroom, OOG is a simple binary in/out indication. It tells you NOTHING about HOW the OOG colors will look. That's what soft proofing is designed to tell you.
I cringe when I hear people say that they try to desaturate OOG colors for the purposes of getting the color in gamut. Of course, that ruins the image...what matters most is deciding which rendering intent will best render the color (in or out of gamut) and what will the image look like when printed. This predictive function of soft proofing allows you to use the limitations of the output media to try to get the optimal output in terms of color & tone.
While ProPhoto RGB certainly has a ton of colors (some imaginary) that the Epson 9900 can't print, there are a lot of potential color that the 9900 CAN print but can't be contained within Adobe RGB. Red, yellows and oranges in particular will be clipped when using ARGB and some of those same colors CAN be printed on the 9900.
While written as an sRGB vs PPRGB discussion, this page:
sRGB-VS-PPRGB, the color gamut of ARGB is not hugely better that sRGB and similar issues of gamut clipping can occur.
But hey, if what you are doing is working for you, by all means, keep doing what you are doing with the exception of thinking that viewing out of gamut colors is giving you anything useful. Soft proof? For sure, but get over the OOG habit.