At the end of the day, it really depends on the level of risk you are willing to bear. I QT almost all fish 12 weeks, yet ich snuck into my tank. So, how? One of three ways, it was either already there when I bough the tank originally off craigslist, though none of the fish ever exhibited symptoms; it hitch-hiked in on an asymptomatic new fish, or it came in on an un-QT'd Leopard wrasse (I suppose it's also possible it came in on an invert). In all cases there were no symptoms. Consequently, I'm of the opinion that just observing does not get you anywhere close to 100% prevention. Prophylactically treating will get you a whole lot closer, though also not 100%, and you may lose a few fish to the treatments. Which is better? My own position is that as I build a more significant fish population, the downside of not treating becomes more costly. It does depend on the fish, of course, but I am more inclined to treat in the absence of symptoms now than I used to be.