I have heard that every time the printer is unplugged from power (I assume a power outage would be equivalent), the printer does a large cleaning cycle, wasting a lot of ink. Not only is the ink expensive to waste, but the ink waste pad, once filled, is not user-replaceable. We have short power outages here several times a year, so I was hoping a UPS would protect the printer from most of them.
What you say is generally true, but I wouldn't worry about several (6 or so) a year.
Deinitely keep it plugged in all the time. Since my printer is connected by wifi it never goes Auto Off - stays on all the time. More important is to print at least a page every two days. If printer goes unused for more that a period of time (I believe it is 60 hours) it does a cleaning cycle as well.