Hi Christina,
Just to add to the above ...
With Colour management, the bigger the colourspace (sRGB -> Adobe RGB -> ProPhoto RGB), the bigger the mess people can get themselves into because the range of colours that the camera can capture - the monitor can display - and a printer can print, are all different. The problems arise when a camera captures a colour that the monitor can't display, but the printer can print -- photographer looks at it on the screen -- thinks "that doesn't look right" - plays around with it until it looks "better" - and then prints it (at which point the printer may print something different again).
So in that context, sRGB can be thought of as SAFE RGB in that nearly all devices can handle sRGB so it becomes a safe lowest common denominator.
In reality, if you're managing colours correctly, then you usually won't see any difference between sRGB and Adobe RGB, with exceptions for certain strong colours. Further problems arise though when people mishandle the images, eg:
- Commercial printers don't use colour management (don't get me started!) - so they don't "expect" sRGB they simply ASSUME it's sRGB without even looking at it -- and it gets processed as sRGB regardless of whatever it is. Because Adobe RGB is a bigger space, the numbers that represent tones are lower for a given tone (eg pour a liquid into two containers and it'll assume a lower level in the bigger of the two containers) - and the printer prints them as if they were sRGB numbers - then everything comes out "muted". In that situation you simply need to CONVERT (not assign) your image to sRGB before giving to a commercial printer). If you're doing your own prints then Adobe RGB should be fine.
You said your monitor has sRGB and Adobe RGB settings; this is misleading. The Gamut that a monitor is capable of is a physical property of the monitor, not a selection. For good colour management, your computer needs to know what those physical characteristics are (which is why we use a colorimeter to build a profile for the monitor). If the computer thinks the monitor has one set of capabilities and it really has a different set, then your results will be all over the place.
If you want accurate and consistent results then you really have no other option but to invest in a colorimeter like a spyder from datacolor.
Pop along to
http://www.nativedigital.com/practic...-v5-ebook-pdf/ for a free (and very good) eBook on colour management if you haven't already.