I have my working color space in CS5 set to Adobe RGB. My camera (40D) is set to Adobe RGB. When I open a raw file I get an embedded profile mismatch. It is telling me that it is sRGB and it ask me if I want to convert the profile to the working profile.
When I view the properties of the same file in DPP 3.3 or Zoombrowser the file has a color space of Adobe RGB.
If I set my camera to sRGB I still get the embedded profile mismatch. If I switch CS5 to work in sRGB I don't get the mismatch with either of the RAW files. The one that is Adobe RGB or sRGB.
I use the North American prepress 2 color settings.