In the fantastic video "From Camera to Print" by Michael Reichmann and Jeff Schewe, they show their method of soft proofing which is:
Duplicate the image, put both copies side by side and soft proof one of them using what rendering intent looks best and then make some edits on the soft proof until you achieve a similar image.
Can you get the same results if, instead of soft proofing one of the copies, you convert to profile the image (to the paper profile) and edit that?
I am trying to put together a simplified color management FAQ on my website for my customers.
Jeff has a very good white-paper on printing at Adobe, which I found really helpful, ...sorry, don't have the link with me. But it helped me to better understand the process, and the C2P is a good source too!