I've been playing/using the PS CS RAW converter for a while now.
Do note that "Camera Default" as supplied isn't set up in the best way, IMHO. Also note that it is possible to "Set" the Camera Default settings.
I.e. set up some default settings you like and the "Set" them as the camera default. Next image in will use these new default settings.
Even so, I think I must deviate from the default settings for every one in three images I convert from RAW.
Another note, do as much work as you can possibly do within the RAW converter before bringing in to PS, it certainly helps with the quality of the end result.
Another note, don't just adjust exposure, saturation etc. but also use the luminance smoothing etc. settings to get the best result you can get to before importing.
Ian (who is very happy with the PS CS RAW converter, *now* I've found my way about)