Essentially all are just colour spaces ... you must match your display with the colour profile (in colour management aware software like Photoshop) or it will look f*ck3d (unless you are working totally in sRGB). Without going into a tute on this, as long as your display software knows about profiles, and is set to open a file and display it according to the right profile (not to over ride or ignore it) then you're sweet. If your software does not (say, CorelPaint) then you're up the creek.
worse, if the image does not have the profile embedded ... you have to know or guess ... happens to me quite a bit with places scanning into their printer profile, then not embedding it ...
sigh
The differences between the colour spaces have to do with gamut of the colours which can be represented within the data range of that space.
I typically use that one for my Epson simply because it doesn't happen to have many in its kit standard. On my Nikon I use Bruce RGB
if you're not familiar with the gamut ranges
http://www.brucelindbloom.com/index.html?WorkingSpaceInfo.html
some software has really nice 3D animations of the colour gamut ranges. Colour is one of the most hair raising issues in photography if you ask me.
don't know if this helps, but:
http://www.gballard.net/psd/assignconvert.html
not astoundingly hand holding, but to the point. Read each paragraph as many times as required to get his point.
lastly (not trying to teach you to suck eggs if you already know this stuff)
http://www.cambridgeincolour.com/tutorials/color-space-conversion.htm
worth stepping through this set too
http://www.cambridgeincolour.com/tutorials/color-management1.htm
I liked this 'analogy' of his in discussing what the profile does with the data in terms of perception of hot food:
Let's say that you're at a restaurant with a friend and are about to order a spicy dish. Although you enjoy spiciness, your threshold for it is limited, and so you also wish to specify a pleasurable amount. The dilemma is this: a "mild" degree of spiciness may represent one level of spice in Thailand, and a completely different level in England. Restaurants could standardize this by establishing that one pepper equals "mild," two equals "medium," and so on, however this would not be universal. Spice varies not just with the number of peppers included in the dish, but also depends on how sensitive the taster is to each pepper. "Mild" would have a different meaning for you and your friend, in addition to meaning something different at other restaurants.