The reason I don't do this is because there will be occasions where people are dying in raids (both casual and standard). If I have to raise people in Rabanastre, for example (because you're guaranteed to get people flailing around, getting squashed by pillars or unable to move during flame-arm), then you can re-protect them at your leisure. It won't save them from one-shot mechanics, but in some fights it can stave off the need for additional healing (eg. Quake IV's in the same fight).I cast Protect via macro which does the juggling for me, and the fact that you can do such a thing shows how silly Protect as an optional spell really is.
QC, Luci, Prot, Larg and either Cleric or Esuna for me. I don't see much point to the others (though that doesn't mean I value Cleric much, even as a DPS-Healer)