I'm just wondering what everyone else here does when they open up something in photoshop and it askes them about the profile.

I went to a seminar explaining everything about them and forgot most of the stuff a few hours after I left. Aparently most Adobe support staff just tell people to disable colour management and not to worry about them.
If you work for a games company what do you do? (eg. does the game run at sRGB or Adobe 98? or other)

I assume they have no colour profile within the game but I think photoshop deafaults to sRGB (which is really quite crap)