These are observations from my experience:
If you don't have profile making equipment I suggest this.
Pick what you consider your best profile for vinyl and use that for all your vinyl, pick your best banner profile and use that for all your banner, etc, etc. You may have a couple more for translucent, poster paper etc.
Just because you use a profile designed for the media by some company doesn't neccessarily mean that it's any good. I have 3M and Avery profiles that are garbage. My best were made independently by a colour tech who knows his stuff and are fabulous...they came with our last RIP purchase... really great pantones and greys.
I've always made my own but can't improve on his versions so I use them.
I use about 4 or 5 profiles for everything....a gloss vinyl, a banner, a backlit, a poster paper and a photo gloss paper.
This method simplifies workflow and gives you more consistent colour expectation across the board.
To choose what you consider your best profiles, set your RIP to ignore tagged profiles, set it as SWOP for your CMYK input and either ADOBE 1998 or SRGB for RGB input.
For colour intention, use 'relative' for everything, 'designers' love to dump a random black vector on top of a bitmap...print out a test piece which are available around the net or in your RIP's folder or cd...look for neutral grays and good shadow detail, good black graduation, neither under or over saturated colour, no blown highlights.
I dump all tagged profiles, I find half the 'designers' that attach them don't even know what they're for.
Print out a PMS swatch book also available around the net or in your RIP' install folder or cd and choose the best profile from there...you get the idea.
This system will get you printing good predictable colour. Once you get more experienced you can experiment here and there but my money is on that you'll find your way back to this method.