Before I upgraded to Photoshop CS4 on the Mac I had been happily producing profiles by printing the untagged charts with Color Management in both Photoshop and the printer driver turned off. However, I have found that Leopard or Snow Leopard with Photoshop CS4 and the Epson 7900 don't produce the expected test chart result on matte paper so I don't know what is going on in this case...
I ran two test prints of charts generated in PM 5. These are the same untagged charts I have been using for a couple of years for my printers.
I changed the default paper profile in CU to premium luster photo paper 260 which is the same paper I am printing on and use for media settings in the printer driver (6.55). Driver is set to color management off and printer is set to no color management.
I then changed the CU back to the default paper profile of sRGB. Assigned sRGB profile to the image and set the dialogue to 'Printer manages color'. Set the printer dialogue of 'No color management'.
The differences between these two prints are remarkable with the first print being very saturated and in fact mimicking very closely my monitor.
The second print (with the assigned sRGB profile) is very flat (as I would normally expect) and also mimics my monitor. In both of those instances my working space was set to ProPhoto.
Then I printed a third test print with my PS working space set to sRGB and no color management anywhere in the driver. That print matched my second print (assigned sRGB Profile) and also mimicked my profiled monitor.
So I have determined that, for sure, if I set PS to no color management and the printer to no color management the working space determines the final printed output. That then leads me to believe that a profile must be assigned to an untagged image and that profile must/should match the default profile in CU or that the PS working space must/should match the CU default profile. Is any of this making sense?