It's nearly impossible to get the two to match perfectly. I suspect they are using slightly different preview architecture (which is right?).
You're probably better off with the simulation off for most stuff since you really can't edit the image in Photoshop or for that matter do much since you need to dismiss the palettes and menu's (they don't undergo the white simulation).
If you had a good profile editor, you could edit the IP profile preview table for a better match in Photoshop of what you see in IP. Not sure it's worth the effort but doable.