I've personally never been one to just shovel in as much protein as I can thinking that it'll magically make me huge and ripped. Once you understand the rational for carbohydrates being 'protein sparing', you realize that you can indeed get away with a lot more carb heavy foods than the mainstream media might have you believe. As Modok explained, Protein isn't the body's ideal energy source.
Yes, you can take excess protein and create glucose from it in the absence of 'preferred' fuel sources (carbs, sometimes fats), but it can be better put to use building muscle tissue. Tim Patterson once told me that the 'quickest way to teach your body to oxidize muscle for fuel is to eat a really high protein diet'.... think about that for a moment.
Now, I'm not saying that I intentionally keep my protein low, usually around 250g a day on average (I usually weigh around 205 lbs, 175 onstage), BUT sometimes, and this is simply due to food choices on my lower carb days, I do end up with some pretty high numbers (350g protein, once or twice I actually came close to going over 400g!). The Positives to this happening (and I would never do it on a consistent basis), are twofold:
1-High protein intake is satiating. You will feel full which is a plus when dieting.
2-The Thermic Effect of protein breakdown results in a greater caloric expenditure than eating other macros.
1.25-1.5g/lb Is plenty enough for anyone. Once you've got that aspect squared away, and a decent amount of healthy fats, enjoy yourself and "Fill in the rest with Carbs" (As Jim Cordova puts it!)