Thanks, Jeff.
If my understanding is correct, the monitor color space simply IS- in other words, it will display a range of color and luminance based on how it's built (although gamma and temperature values are user defined). I also understand that photoshop's working space is user defined, and that in order to preserve as much detail as the program can currently extract from a RAW image, it's best to edit in 16 bit mode with the largest color space possible (pro photo at the moment?). Only when the editting is done and the image is ready for output should you assign a more limited color space and bit depth (8 bit sRGB for jpeg for web output or the appropriate ICC profile for print).
What I dont understand is if (and if so, why) the gamma of the chosen working space matters. The gamma of pro photo was mentioned in passing on the video, and made me wonder about its effect, if any, on how the monitor handles luminance.
Thanks,
John