GraFax said:
Just to add my two cents;
Lightroom uses ProPhoto RGB as it's internal color space so I use that within my own workflow to keep things simple. So, if you edit RAW's in lightroom, you use ProPhoto.
No it doesn't.
All images displayed in the Library Module are jpegs in Adobe RGB, these are internally created. I am not 100% certain if it displays tagged jpegs in their native space, like in the Slideshow Module, or if they are all recreated as Adobe RGB previews.
In the Develop Module it has it's own colour space, although the chromacity levels are based on ProPhoto it has a gamma of 1.0, ProPhoto has a gamma of 1.8. You can't ever see the internal Lightroom Develop Module colour space, it is called Melissa. The images you see in the Develop Module are Melissa colour space with an sRGB gamma tone curve applied. This is why you sometimes see a colour shift when switching from the Library to Develop Modules.
In the Slideshow Module RAW files are displayed in Adobe RGB and tagged jpegs in their native colour space.
In the Web Module all images are displayed in sRGB.
Lightroom is a colour space marvel, it is extremely complicated under the hood but they did a very good job of the methodology, basically it reminds me of a swan on a lake, it looks serene and unmoving on the surface, but below the water it is paddling like a paddle steamer.
Having said all that, only for the sake of accuracy, as has been pointed out, if you are shooting RAW and using Lightroom it is close to irrelevant with a nod to the improved histogram in Adobe RGB, if you are shooting in jpegs and doing little or no post processing then sRGB makes more sense especially if you upoad or email many of your images. If you shoot jpeg and do extensive post (but why would you!) then Adobe RGB will give you more tonality to maneuver before posterization kills your image.