Jase,
Here is a Thread that relates to terrestrial photography on a photo forum.
The final explanations in the last few posts cover the issues raised better.
Unfortunately there are many different colour spaces used by devices and systems - all of which have greater or lesser gamut ranges depending on the technology used.
Video is different to a web image on a LCD Monitor is different to a 8+1 ink Epson UltraChrome K3 printer is different Ultrachrome is different to a Euroscale or a Canon 12 ink ImageProGraf printer which is different to offset printing . . . .
Here is an article on sRGB
http://www.w3.org/Graphics/Color/sRGB
Most professional photographers would probably be using aRGB but possibly performing conversions depending on the ultimate use of the image - eg publication on the web (sRGB) or for printing.
The printer (person) then does their own colour space conversion when setting up for a print run based on the process, the inks and the paper being used - sometimes manually or often done automatically by the software.
If you are doing your own "quality" printing this is a function of your printer's own colour profile which is quite dependent on the paper - and so each paper will have its own profile for the most accurate results.
This of course means that the printer's output should get colour calibrated also, although with modern inkjet printers and their inks are becoming so reliable and consistent that this is not as necessary as it once was, but if you cant get a hold of a profile for the paper and printer you are using then you would need to get it calibrated - a service that costs about $50 or is done for free by some suppliers. You print their reference image, they scan it and send you a new printer/paper profile.
The truth is that so long as everyone knows what they are dealing with (ie which colour space the image is and their software has the ability to manage the colour workspace) it shouldn't matter greatly as the same colour information is still retained within the image.
The problems occur when things get mixed up and profiles arent clear, so images with different colour profiles get rendered as if they were the same or by software that doesn't understand or care what to do with the images.
Embedding the colour profile in the image is preferable.
Depending on your OS you may or may not be able to mange your colour space easily - Windows XP has an application direct from Microsoft that allows you to manage your colour profiles - download it - WinColorSetup.exe
Vista is the first Windows OS to allow colour management at the OS level, Mac has had it forever ! Linux uses it with the Gimp natively I think and not much else.
See wikipedia also for further commentary
http://en.wikipedia.org/wiki/Color_management
Its an interesting and not exactly straight forward area that all photographers - astro or otherwise need to standardise their own particular workflow with.
I use aRGB
Cheers Rally
PS calibrating your monitor is essential, although my experience is that many modern quality LCDs are pretty much near correct at factory settings - its usually only the brightness that needs readjusting in the calibration process.