@Barry: Be really careful with “smallest file size” PDFs! If the image is already in CMYK, it will be converted to RGB, and the resolution is dropped to a VERY low ppi! I would not use that pdf preset for anything.
@Chris: InDesign has the ability to check ink density using the Separations Preview panel. There’s even an Ink Limit setting in there. Check out the links below.
If you’re placing RGB images into InDesign, then exporting the PDF to the desired CMKY (e.g. ISO Newsprint) will convert them properly, and within the ink limits. That is the best practice these days: leave all images as RGB and then let InDesign do the conversion when you make the PDF if you need CMYK.
But if you’ve already converted images to CMYK, then you’re stuck with them. SWOP is higher ink density than Newsprint, so that could be a problem.
Yes, if you leave “preserve numbers” off, then all CMYK gets “cross-rendered” from one CMYK to another, and 100% K will almost certainly change to 4-color black. Rarely a good idea.
If you have access to Lynda.com/LinkedIn Learning, check out my titles on “InDesign Color Management” and “InDesign: Print PDFs”
https://creativepro.com/force-color-images-cmyk-240-ink-limit.php