From Seachem's site...
http://www.seachem.com/Products/product_pages/Prime.html
Prime® is the complete and concentrated conditioner for both fresh and salt water. Prime® removes chlorine, chloramine and ammonia. Prime® converts ammonia into a safe, non-toxic form that is readily removed by the tank’s biofilter. Prime® may be used during tank cycling to alleviate ammonia/nitrite toxicity. Prime® detoxifies nitrite and nitrate, allowing the biofilter to more efficiently remove them. It will also detoxify any heavy metals found in the tap water at typical concentration levels. Prime® also promotes the production and regeneration of the natural slime coat. Prime® is non-acidic and will not impact pH. Prime® will not overactivate skimmers. Use at start-up and whenever adding or replacing water.
While I agree it's a good product for when it's needed when stuck with cycling with fish issues, lets discuss some of Prime's advertising because there is a LOT of salesman's fluff in their advertising...
Prime® removes chlorine, chloramine and ammonia. Prime® converts ammonia into a safe, non-toxic form that is readily removed by the tank’s biofilter.
How can it "remove" the chlorine, chloramine and ammonia in one sentence and then convert the ammonia in the next sentence? I agree it does convert the ammonia to a non-toxic form but it doesn't remove chlorine or chloramine. It breaks chlorine and chloramine down and binds with them to make them not toxic... just like the sodium thiosulfate in other dechlor products.
Prime® may be used during tank cycling to alleviate ammonia/nitrite toxicity.
While it does alleviate ammonia toxicity, it's a VERY EXPENSIVE solution to nitrite toxicity... when a pinch of table salt per 10G will do the same thing. In fact, that is all Prime is doing with the added salts in their product. Prime is around $10.00++ for a 16 oz. bottle... table salt is around 50 cents for 2 pounds.
Prime® detoxifies nitrite and nitrate, allowing the biofilter to more efficiently remove them. (From another part of the page... To detoxify nitrite in an emergency, up to 5 times normal dose may be used.)
I already talked about nitrite above but IF Prime does do anything to detoxify nitrate.. which isn't really an issue since nitrate does not start to cause problems till it gets very high and normal tank maintenance will keep nitrates in check... but their claim that it "detoxifies... nittrate, allowing the biofilter to more efficiently remove them" is simply not true... since the biofilter in most of our aquariums do NOT convert nitrates.. unless one has the added filter systems (trickle filter, deep sand bed, etc.) for denitrifying nitrates.
Prime® also promotes the production and regeneration of the natural slime coat.
The likely reason for this is the added salts in Prime... most people do NOT need additional slime coat production for their fish.
Now all that said, once again, Prime is a good product but it is two to three times more expensive than what is needed.
On the down side, I've read some scientific info and even admissions on Seachem's forums from Seachem's reps that Prime causes a much higher reduction in O2 levels in tanks... especially when it's overdosed which they promote in their directions. In an overstocked tank that is going through cycling with fish issues, low O2 levels are NOT needed.
Most tap water treatments cause some reduction in O2 levels but most other products to not recommend overdosing their products so it's not usually as critical.
There's another thread in this forum where someone had a major fish kill in their tank after they used their dechlor for a partial water change and then also dosed their tank with Seachem's Excel for their plants and between the two products being used at the same time, Seachem said it probably lowered the O2 level too much and suffocated the fish. If I recall correctly, they lost around 1/2 of their fish... some of them nice fish!