I know how much of a pain this can be for interpretation. The nearly asymptotic behavior of the line as particle lubrication continues with no more retention of water is frustrating. I often see a mini peak of the curve to the left of this and would consider it more likely the peak of field conditions, barring a free-draining layer underneath the free-draining sand. If not, good luck trying to convince the contractor to hydrate to a crazy-high MC!
In Lars Forssblad's Vibratory Soil and Rock Fill Compaction, he discusses an assumed maximum dry density of a free-draining sand as the same dry-density you would get from compacting an oven-dried sand. After some testing of my own, I have found this to be characteristic of many sands with less than 2% fines, but shaky above that.
Hope this can be a useful reference...