That’s the gist of it. If you do not care about estimating the ooc jpegs, then start with Neutral, and only enable the “Base table” for your dcp. Only when your profile does not have a base table (which is rare in my experience), should you enable the “Look table”. If both of them are available, stick to the base one, otherwise you have some arbitrary color “look” applied.
@nonophuran: Despite what @rogerx claims, you don’t need the “Tone curve”, unless you want to have a quick fix to have your image match the tone of the ooc jpeg / manufacturer’s look. In most cases you actually want to use the “Auto-tone curve” option on the Exposure tab for that, which was specifically developed for this goal and works more generally.
Or you make use of the lensfun database used in RT. In many cases you don’t need Adobe’s profiles.
Not a 100% sure what you mean here, but this sounds like something a flat-field correction could do? Any discussion related to negative processing is actually better suited here where it originally started: Any interest in a "film negative" feature in RT ? - #135 by nonophuran