I've been asked to come here and chime in. I see that the thread has branched out in many different directions so I'm not sure exactly which aspect to address, so I'll address the original question. The original question, as I see it, was regarding whether or not it ever makes sense to downsample to something like 120 PPI for something like an Epson printer. Downsampling to 120 PPI means that you started with something higher than that and you are downsampling to 120 PPI. As an example, you start with an image that happens to be 217 PPI at the intended print size. So is there any benefit to downsampling from 217 PPI to 120 PPI versus upsampling from 217 PPI to 360 or 720?
I would say no. The reason being, whenever you downsample, you are throwing away data. That's data you cannot get back and at something as low as 120 PPI, the "lost data" will be evident in the print if you compare to one that was upsampled instead to say, 360 or 720 PPI. The more data you start with, the more "detail" the viewer will perceive (up to a point of course, depending on viewing conditions, device limitations, etc.). On the other side of the fence, you would choose to upsample to 360 or 720 not because you think you are "gaining data", but because those resolutions align nicely with the dot patterns used by an Epson printer and, being multiples, align well with those dot patterns and produce fewer artifacts. As an added benefit, you are using the data you have and not throwing anything away when you upsample.
When talking about upsampling to 360 versus 720, I've found that most printers/papers can render detail at a maximum of somewhere between that range. In other words, some detail can be rendered higher than 360 but probably not as high as 720. It's not straightforward because it depends on the printer you are using, the paper you are printing on, the driver settings, and even the color you are testing. Generally speaking, if you are printing a high res image and that image already has higher than 360 PPI at the intended print size, printing at 720 versus 360 will yield a little better minute detail. But you'll probably have to put your nose almost to the paper to see it. That's why I often say that printing at 360 PPI is fine for large prints and 720 more appropriate for smaller ones because those smaller ones might undergo closer scrutiny. Nothing wrong with printing at 720 PPI for everything, but you may never see the benefit on a 40x30 hanging on a wall.
Mike