I shoot for 20%, or so, a month.
I do them for a few reasons. First, out with the bad and in with the good has always made sense to me. Second, and most importantly, they are cheap. A 50g bag of IO is about $12 and that can get me through a month. I can change a year of water for what a single triton test and a few chemicals cost.
Most people have no understanding whatsoever about phosphate binding with aragonite. Routine water changes, even when not seemingly necessary, can keep these levels lower than tanks that do not routinely change water. For example, I did an experiement where I added about 50 ppm of phosphate (yes, that much) and the aragonite absorbed it down to about 1/350th of that amount at about .16, which is low to most people... but 50ppm in the tank is not. Even though a 20% water change would only lower the water level to about .12, which does not seem like much, it would lower the rock level to about 40, which can be huge.