Lets say I create a pdf from a color managed application- say I export images from LR to a pdf. If I now view it on my profiled monitor but outside the application - ie Adobe Reader - am I seeing the effect of the monitor profile?... Is there preferred profile to use when I export? I am guessing sRGB?...
Robert the monitor profile has nothing to do with profiles exported with PDF's.
The preferred profile has everything to do with the end use of the image in PDF form ie print or web, or whatever.
sRGB is the best alternative for web usage, but, IMHO anyway, an appalling choice for high-end printing.