Not a lot really. What matters to me is the quality of the display I’m using.
Many monitors come with drivers *and* ICC profiles when you install them. That’s what’s on the CD that no one ever bothers with.
Photoshop (and InDesign) honour you display profiles very well and their RGB to CMYK conversion is second to none. So my advice is to install the profiles from the CD, and use sRGB for most things as this is probably what your camera shoots. Save in CMYK if you need to edit separations only. Those that know my background would know that I’ve worked not only IT, but printing and publishing for most of my life.
In the bad old days we would find that the ‘gamut’ (range of colours) that a monitor could display was too large for conventional printing equipment. It lead to disappointing results however it’s all good now.
You should still pay attention to ‘total ink coverage’ (InDesign is great for this). I get amazing results from Officeworks because I turn it down to about 180%. it stops the blacks bogging in and is strikingly accurate to what I am editing. I did many test strips to figure this one out. Commercial printers are still happy at about 240%.