Yup, with a lager you can transfer with 1p or so of extract left into a fresh keg, seal it up, and hook on the pressure relieve valve. It has a few benefits - it saves time and money by eliminating the need to force carb with C02, the transfer seems to rouse it up and results in higher attenuation, and the big one is your serving keg will have less oxygen.
I've done the whole fill the serving keg with sanitizer, push it out, purge and purge again, then close transfer thing as well but my DO meter showed it's not as good. Actually took some readings last night. A bottle conditioned beer had the lowest oxygen, my spunded lager had a bit more (imagine more headspace and the transfer, working on my processes), and the c02 purged/racked into serving keg after FG was reached beer had significantly more 02. Purging with C02 seems to be materially not as effective as active yeast. I just got the meter so I'm looking forward to taking more readings.
We've all noticed that drop off in dry hop aroma - in theory this should be significantly reduced with less oxygen in the serving keg. I guess it's why canned and oxygen obsessed Heady Topper and bottle conditioned Sierra Nevada last so much longer than filtered and bottled beer.
http://www.homebrewing.org/Adjustable-Pressure-Relief-Valve-w-Gauge_p_1813.html&utm_source=google&utm_medium=shopping?gclid=CPj4g4DRqs4CFclZhgodsBoOLwwhat is spunding?
I fill my kegs to the brim with sanitizer and push that out with CO2 before jumping or racking the beer in. seems to limit O2, but I get what you are saying.
Spunding is moving the beer to the keg with some amount of fermentation left to go. Then you connect a spunding valvle (I just bought one but have not used it yet) to allow the pressure to escape but the valve allows you to dial in the amount of carbonation you want to retain in the beer. So it's a way to naturally carbonate and you can also assume that it's a great way to keep O2 out of the beer at the same time. Personally I find the "dialing in of the carb" a little intimidating but if you ended up low on carb, I could see topping it off with CO2 from a tank to make up the difference.