I didn't even worry about color space until the recent Fong blowup and after perusing various websites, I think I have come to the conclusion that Gary Fong got the right answer using the wrong math. I think these two articles explain it better, at least for me:
http://help.smugmug.com/customer/portal/articles/93362
http://www.cambridgeincolour.com/tutorials/sRGB-AdobeRGB1998.htm
For workflow purposes, why put yourself through extra steps by shooting aRGB? You wind up having to convert it to sRGB a lot of times for sharing online/on tablets/etc. and even for some printing services apparently. So it seems like for most (not all) people, it'd be more time-efficient to shoot JPG + RAW and have the JPG on sRGB. That way you can share online/on an iPad/etc. without any more steps, and for the few photos that need printing, you can just go back to the RAW and tinker with it in aRGB or ProPhoto or whatever your destination printer uses.
This won't work for some people but I think it would work for most people. Y'all can argue about color management in an ideal world, but we don't live in such an ideal world yet, so shooting sRGB JPG + RAW seems like the most time-efficient way to deal with current realities, yes?
You do realise that RAW files cannot have a colourspace assigned to them in camera like a JPEG.
Until a RAW has been demosaiced strictly speaking it doesn't have any colour detail at all just greyscale tone and so, by definition cannot have an assigned colourspace.
If you are using Lightroom or Adobe Camera Raw then they perform this demosaicing. All the image colour data is then interpolated into the working colourspace which happens to be ProPhotoRGB. Not until you convert this RAW file into some other file type - TIFF, PSD, JPEG etc will any colourspace be embedded.
Now there are situations where just shooting JPEG's and assigning them either AdobeRGB or sRGB in camera is a good idea and there are situations where shooting RAW is an excellent idea too.
However, asking the camera to save both a RAW and JPEG whenever you press the shutter, is, nearly all the time, not getting the best of both worlds as far as image quality goes (either the JPEG or the RAW will suffer) and is usually a colossal waste of storage space.
You do not sound, to me, as if you are the sort of photographer with very complicated workflow requirements that are edge-case where it might make sense to shoot both RAW and JPEG together.
Why do I say what I say above: well optimal exposure for a RAW file is usually (often) very different to exposing for a JPEG. JPEG's need to be exposed very similar slide film while RAW files are optimally exposed using a principle called
Expose
To
The
Right (ETTR), which, if you are also saving JPEGS will result in a hopelessly overexposed JPEG.
Exposing optimally for a JPEG however leaves an enormous amount of potential tonal information on the floor as far as the RAW file is concerned.
Since RAW files usually 14-bit files (and sometimes more) and JPEG files are 8-bit files trying to pull and push those JPEG's around in the Develop module of Lightroom, or in ACR, will make them fall apart, while RAW files not optimised by ETTR will show excessive noise in the shadows that becomes especially evident as soon as one tries to lift the shadows.
(It is true that recent late-model cameras have a much lower noise-to-signal ratio so the noise issues have abated a bit.)
If some of this has come as a bit of a surprise to you I encourage you to research the relative merits of RAW capture vs using a JPEG only workflow using the excellent resources found on this site in the various articles and tutorials.
I make no comment as to what specific option may be best for you but suggest it may be both redundant and expensive to continue to shoot both RAW and JPEG.
Tony Jay