What settings you use do have an impact on how the image is rendered on your computer screen.
This is very relevant to changes you may want to try for final use.
Best settings are those that match your intended final use.
sRGB is preferred for computer display and display on the web.
RGB is preferred for nuances, mainly subtleties in tone and color when you do print and see them on a high quality calibrated monitor.
Generally, RGB images are muted when displayed on the web.

Color space settings are only irrelevant in the sense that the image is unaltered as shot when in RAW, and you can later change the color space.

I use Lossless Compressed because its name implies there is no data discarded when saving and yet, it saves disk space.
Compressed losses some data to reduce the file size.
Uncompressed simple doesn't compress and they have the largest file size.
As for bits, the more the merrier. However, in my daily use (the web), I don't see much of a difference -and often none- in image quality, even on wider dynamic range sensors, like those on the D4 and D800.
My personal impression is that the more bits options are in preparation of the wider dynamic range of the near future.

Our experts will surely expand on this topic.

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