Thank you, Andrew. Yes, I do all my image printing via PS color management.
In this particular case, I am exploring printing digital negatives for alternative processes by using null transform (or pseudo) by specifying both Printer Manages Color AND ICM Off in printer dialog. I am trying to maximize the (0,0,0) density so I get the most UV-opaque negative (which some processes like salt printing require.) I have found that I get slightly higher density in the null case with Rel. Col. as compared to normal PS Manages Color sequence. I was wondering if the outcome might be different still if I used Abs Col instead. Then I wondered why is that choice there anyway, since PS has no way of knowing what printer icc profile is going to be used when it sends the file over.
In the meantime, I did print 2 targets - one with Rel. Col. and the other with Abs. Col. and measured the Lab values. Not too different, within my ColorMunki accuracy.
:Niranjan.