Is there any actual value in mining using the primecoin method when compared to sha256? Is it a superior mining protocol?
If you find a value in generating information that can be used by theoretical arithmetic then mining primecoin might be of actual value for you

I highly recommend reading Sunny's paper (
http://ppcoin.org/static/primecoin-paper.pdf).
I can't tell in general whether primecoin mining is superior to mining other coins as this can only be a subjective value. In my opinion it is a promising project.
It has a brand new, smart and even useful Proof-of-Work concept.