Actually, if I convert my image to the printer profile space, and select "preserve RGB numbers" there is no change in the preview. And, photoshop automatically converts the image to my display profile anyways when soft proofing is off.
Therefore, I can't see how this setting would help me, or the original poster, for softproofing at all. Other than some technical issue, that I don't have, this setting doesn't generally apply to printing at home or sending a file to a commercial printer. I can see using it only if I wanted to experiment with performing the color space conversion to printer space by eye, instead of using the printer profile conversion process. An interesting idea, but not for normal printing...
I just checked this on the current version of CC. It's quite different than when I last had looked it and your observations are correct. It appears Adobe now uses the fact the image is in a printer's profile space to disable the various Intents in soft proofing. You can select Perceptual, Relative, Abs., Sat., BPC or not and NONE of them affect the softproof! Needless to say, selecting Preserve Color Numbers doesn't either though it does shift the now grayed out Intent to Relative. They all show exactly the same thing. Also, the settings in the global "Color Settings" dialog have no effect.
The only options that change the proof view are Show Paper Color and Blacks.
So in this incarnation of Photoshop Preserve Color Numbers does absolutely nothing because they bake it in.
But only if the image itself has the same printer profile. If, for instance, you select a different printer profile from the one the image has then it becomes unbaked! Suddenly, the various intents work.
So basically the Preserve Color Numbers does nothing normally. But there is one place where it is still necessary. If, after you convert the image to the printer profile and save it but not with the printer profile embedded. Then, when loaded in Photoshop unmanaged or arbitrarily assigned an RGB working space, Preserve Color Numbers will correctly produce a view proof.