I have just had some black and white negs scanned. The files contain an embedded profile. I will be working on them before I get them printed. The colour profile doesn't match my current workspace should I use the embedded profile (instead of the working space), Convert it to my current workspace or discard the profile altogether.

Because the images are B&W, I assume that you will ultimately convert them to grayscale (unless you plan to colorize them or maintain the slight tint they may now have). I suggest you select the option to convert them to your working color space to preserve the current look. Then when you go to save them they will automatically be tagged with your current workspace whatever that might be.
Regards, Murray

If there is an embedded profile, it means the service that scanned for you has set up their own color profiles or use those of one of their vendors or bureau services. It has no bearing on what you do with it, unless you are going back to the same people to print your files. If that is the case you might want to ask them to provice their ICC profile to you so that you can stay within their color settings.

For example, I use my own digital photos and scans as well as receive them from others. I have a printer that does 90% of my 4 color process work. They have provided me with their ICC profile. I usually work in RGB then convert to CMYK within their color space for final output. It has worked well for me.

Thank you for your replies if I convert the files to my existing workspace do I loose any picture information?

In some cases you do lose color information. Obviously if you convert from color to grayscale, you lose all color information. If you convert from grayscale to bitmap you lose all shades of gray.

Also, if you convert from RGB or LAB to CMYK you reduce the color spectrum considerably. The "hot" colors will turn dull. I always do a CMYK conversion as the last step before out putting a TIFF for print. I always save the RGB as a PDF.

Generally, you will want to convert or set a document to your RGB working color space. My preference is Adobe RGB 1998 some people prefer sRGB when working with digital camera files.