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© tzalman [SHARE LINK] THIS IS A LOW QUALITY PREVIEW. Please log in to see the good quality stuff. In the majority of photo subjects, all or nearly all the colors fall within the sRGB gamut. Portraits, for instance. Events/weddings. Sports. Etc. Rendering such subjects in a wide space means that room must be left for non-existent colors, reducing the number of tonal levels available for real subject colors. The myth that "a wider space means more colors" is generally untrue - you get fewer colors with bigger gaps between them. The smallest space that encompasses all the subject colors is optimum.
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© tzalman [SHARE LINK] THIS IS A LOW QUALITY PREVIEW. Please log in to see the good quality stuff. Look at the plots of the spaces. Note that the red and blue primaries of sRGB and Adobe RGB are almost identical; the green primary in Adobe RGB is the difference and its width gives greater coverage to the cyans as well as a slight widening in the yellows. In fact, the green primary is beyond any green that occurs in nature, so although Adobe RGB does retain additional colors in landscapes and makes for smoother gradients in skies, the advantage is not as big as it seems from the chart.
Colors that are beyond Adobe RGB and thus require ProPhoto RGB are found in nature only in flowers and maybe some exotic bird plumage and in our non-natural world in plastic toys, neon lights, etc. But as I said, unless those colors are present you pay a penalty by using ProPhoto RGB.
As Frank noted, the second half of the equation is the output medium. Why save a 16 bit ProPhoto RGB tiff (120 MB from my 5D2) for the sake of preserving highly saturated colors - despite the loss of other colors, if those colors will never be seen by anybody, including you?
Save the Raw and you can render it in one space today and a different one tomorrow, as needed. If you have to do secondary editing in PS and save the result, weigh the advantages versus the disadvantages of the space.