Yet another "prints-darker-than-screen" but with a twist...!

In most cases, yes.  However, there are some displays that lose linearity at low brightness that will never be right when it comes to printing.  Hopefully, yours isn't one of those.

By the way, I too have concluded that 120 cd/m2 is too bright.  I've been gradually lowering mine and finally settled on 85 cd/m2.  This is lower than most people will want to go, but it's currently working for me.