I treat all new fish with Prazipro because praziquantel is very safe and quite effective against many common external and internal parasites that are difficult to detect without microscopy. It is true that it is not effective against some common parasites like Cryptocaryon irritans and Brooklynella hostilis, however the diseases caused by those parasites have obvious symptoms and can be treated if symptoms are observed.
Formalin is rather toxic to fish and humans, and in my opinion should only be used when necessary.
Personally, I do not treat for ich when I do not see symptoms, so I would skip the hypo. However, if I were treating ich I would not use hypo anyway. I keep fish in quarantine longer rather than medicating for everything prophylactically.
Metronidazole is effective against some internal parasites that praziquantel is not, but unless you suspect internal parasites that the prazi won't treat I would not add it.