Yep. Compression Wide Color Spaces to to Rec709 may be done many different ways and may provide very different "looks".
Resolve provide options:
BMD CST with Luma/Saturation mapping (with project settings or with CST node)
ACES (with project settings or with ACES Transform node)
REDIPP2 (with project settings or with LUT)
ARRI (with ARRI LUT)
Each large camera company like Sony, Canon, Panasonic, Fuji usually also provides it's own transformation LUTs.
By the way, almost all my tests done with custom made transformation LUTs. I use REDIPP2 based LUT for color space transform to Rec709 and Arri based for gamma transform to Rec709. I shared both those LUTs with example project.
In addition you can create your own custom transformation LUTs with LUTCalc
https://cameramanben.github.io/LUTCalc/ ... index.html Or with DisplayCAL package
https://displaycal.net/ Synthetic ICC and 3D LUT maker apps allow to create custom input and output ICC profiles and combine them to LUT with various transformation/compression intents like “Perceptual appearance” or “Relative colorimetric”
Here is full list of ArgyllCMS Rendering intents from DisplayCAL FAQ (many of them are very specific and so i have no idea how to use them in real life):
“Absolute colorimetric” is intended to reproduce colors exactly. Out of gamut colors will be clipped to the closest possible match. The destination whitepoint will be altered to match the source whitepoint if possible, which may get clipped if it is out of gamut.
“Absolute appearance” maps colors from source to destination, trying to match the appearance of colors as closely as possible, but may not exactly map the whitepoint. Out of gamut colors will be clipped to the closest possible match.
“Absolute colorimetric with white point scaling” behaves almost exactly like “Absolute colorimetric”, but will scale the source colorspace down to make sure the source whitepoint isn't clipped.
“Luminance matched appearance” linearly compresses or expands the luminance axis from white to black to match the source to the destination space, while not otherwise altering the gamut, clipping any out of gamut colors to the closest match. The destination whitepoint is not altered to match the source whitepoint.
“Perceptual” uses three-dimensional compression to make the source gamut fit within the destination gamut. As much as possible, clipping is avoided, hues and the overall appearance is maintained. The destination whitepoint is not altered to match the source whitepoint. This intent is useful if the destination gamut is smaller than the source gamut.
“Perceptual appearance” uses three-dimensional compression to make the source gamut fit within the destination gamut. As much as possible, clipping is avoided, hues and the overall appearance is maintained. The destination whitepoint is altered to match the source whitepoint. This intent is useful if the destination gamut is smaller than the source gamut.
“Luminance preserving perceptual” (ArgyllCMS 1.8.3+) uses compression to make the source gamut fit within the destination gamut, but very heavily weights the preservation of the luminance value of the source, which will compromise the preservation of saturation. No contrast enhancement is used if the dynamic range is reduced. This intent may be of use where preserving the tonal distinctions in images is more important than maintaining overall colorfulness or contrast.
“Preserve saturation” uses three-dimensional compression and expansion to try and make the source gamut match the destination gamut, and also favours higher saturation over hue or lightness preservation. The destination whitepoint is not altered to match the source whitepoint.
“Relative colorimetric” is intended to reproduce colors exactly, but relative to the destination whitepoint which will not be altered to match the source whitepoint. Out of gamut colors will be clipped to the closest possible match. This intent is useful if you have calibrated a display to a custom whitepoint that you want to keep.
“Saturation” uses the same basic gamut mapping as “Preserve saturation”, but increases saturation slightly in highly saturated areas of the gamut.