Andrew Rodney , Feb 26, 2010; 06:27 p.m.
The advantages are, you can now see colors outside the limited sRGB gamut. In non ICC aware applications, an sRGB or wide gamut display, the previews simply can’t be trusted. So yes, outside such applications like Photoshop, things can look odd (hence the sRGB emulation mode). Edit your files in 16-bit, I’d suggest ProPhoto RGB (since capture and scene gamut, as well as much output gamut besides your lab can exceed even Adobe RGB (1998)).