Setting dot gain under color settings. I've been ignorant for far too long and thought it was time I asked for information on this. I've looked at photoshop's help section and I neither have a printer or densitometer and assume the settings that would come from that would just be for my home printer. What setting is most commonly the correct one for printers in general though?

Also, I have been told to set my working CMYK to U.S. Web Coated but I find a lot of artists using Photoshop 5 Default CMYK. Who is right?