yes, but is that math precise enough to handle roundtrips where different colorspaces coordinates and different curves are used, as we are talking about recalculations between prophoto coordinates w/ g1 inside and different colorspace/curve outside
PS: and I am not sure that math is the same either... it is ACR/LR vs PS... different code, isn't it ?
Yes, I did say "except to the extent that implementation specifics such as rounding/15 bit precision in the engine impacts on you"
But I'd be surprised if there was a visible difference without doing a LOT of round tripping.
Personally, I've never seen any difference between how LR and PS handle tagged images. I'd think, but have no evidence other than that ACR and LR share common code for raw processing, that the color management code was very similar.