First of all, this is all about the JPEG images your camera can be set to generate and capture, it has nothing to do with how RAW captures are done.
Second of all, the only setting that really makes sense is sRGB, at least if what you want to do is to put those images on the web, or send them to friends, or to the local drug store for prints.
There is of course much more you can learn about (and have have yet to find a place where this is really explained in any clear way), the following link might be a place to start.
Tom's Digital Photography Info / [email protected]