What relevance does the table-level ANSI_NULL setting have?
The table-level ANSI_NULLS setting matters for automatic table-level operations like when processing computed columns. This also applies to other objects such as triggers (as seen here).

For operations against the table (i.e. comparisons in queries) the connection applies though - this can be quite confusing if you are not expecting a difference in behaviour between what you actively do and automatic operations.