Keep in mind that 99% of monitors can ONLY show srgb. Whether you have adobe98 or prophoto or lab as the color mode, what you see is srgb. If you soft proof properly with the final you can see differences in out of gamut between the various color spaces but you have to be set up to soft proof properly. Also keep in mind that what you are seeing is the composite of three channels (open channels and look at it in ps). When you convert color spaces the software simply changes the values of black and white in each of the three channels. Same when you go from 16 bit to 8 bit. The numbers just get crunched. Problem is that once crunched there will be blank spaces if you try to go back, so you cannot go back. Try to go from 8 bit to 16 and ps will do it by creating / guessing numbers to fill in the holes. Same with srgb to adobe98 or adobe98 to prophoto. ps just guesses where to fill in. When done with a print it will be saved as a jpg, in 8 bit, and sent to a printer in the color mode they want - either adobe98 or srgb. The only reason for going thru all the hassle of 16 bit and converting color modes is to reduce or eliminate damage to the image that shows up as banding, artifacts, outlines, and lots of other not so good things - if an only if you are printing 16x20, 24x30 or bigger as I do (my prints will be at ArtExpo, NY). If you are only making 8x10's it don't matter one way or the other and you will never see a difference between 8 or 16 or color modes. Especially if you are not into heavy modification of the image.