Geez, I'm almost able to understand everything you said!! Sure can learn a lot using Adobe for a year or so It also makes using good advice like yours way more practical to use know what you are talking about. I export multiple files depending upon the situation.The raw file doesn't have a colorspace . It's only when you export/save from ACR that you decide what color space. There is no converting needed because the photo doesn't have a color space to begin with in ACR since it is not an image file. ACR uses a working colorspace to render the image on the screen which you see in thst little link at the bottom. If you click that link you get a dialog of choices. but only when you export/save to an image file type does that saved file get an actual colorspace. So you are fine. I was wrong apparently when I said ACR must use prophoto, I always do so I assumed.
As to the monitor question, some people do indeed work in 1998 for the reason you give, and they do fine. The advantage to using prophoto is that you have some hidden leeway for editing that might come into play. Make sure you have Photoshop set to 16 bit, I think the default is 8 bit. This is in the menu Image/Mode
I kind of use the shotgun approach to export because the reality is I am clueless and wanted to cover all the bases so here's what I export when I really like an image.
A regular internet JPG for sites with size limits in SRGB sharpened on high for screen viewing.
A Display P3 color space JPG also sharpen high for screen viewing.
An sRGB PNG for screen viewing.
An sRGB PNG sharpening for the paper I will be printing it on if I am going to print it.
A Prophoto RGB color space PNG copy.
Later on after deciding a use for each image I delete all but the PNG and the appropriate JPG. If I fall in love with an image I keep the DNG but it eats gigs of drive space really really fast.
Some of the redundancy is due to me still learning how to size images quickly for various sites creating more presets. I am getting better but need all the advice I can get from folks like you.
Can you tell me more about what happens when I create the DNG exports? Am I correct that the original raw file exists within the digital negative along with newer copies after exporting? Is there a setting to change what is included?
As you can tell I am not an Adobe pro yet.
For example, I took a 57MB raw file from NXStudio over to LRC and after minor processing and exporting in DNG to the archive directory the file is now 183 MB. I have more studying to do on digital negatives but it seems like I read it keeps the entire original NEF intact along with everything Studio and Adobe does to it.
One last question I am curious about is do you know if I keep editing the original import will the DNG progressively get larger as change data is recorded ?
Thanks for any help you can give.