I suggest to choose a pure-power TRC as a calibration target because it will be easy to achieve with almost linear VGA LUT curves (I am talking about the Standard mode here) and this calibrated response will be easily characterizable by a "single gamma + matrix" style profile (using very few patches, like ~5 black..gray..white + 1 R,G,B). I prefer the TRC to be characterized by a math function because I experienced some problems with both Adobe ACE and lcms when I used any other kind of profiles (like serious near-black banding without black point compensation -which is unavailable with the Absolute colorimetric intent anyway- and softer but still existing near-black banding + other artifacts -like rising black level- with BPC). And I prefer to keep the VGA LUT linear or as close to linear as possible because it works with 10-bit/color precision but I can output 10-bit/color from the framebuffers too. So, I think I would do everything on the same place and this place should be the framebuffer in this situation because the calibrations correspond to fixed targets while a software CMS engine works with "dynamic" targets (it's chooseable on-the-fly from material to material and different materials and even different light conditions requrie different targets... -> I hope you have the idea...) The framebuffer works with with the same precision as the VGA LUT (or even more if we apply software level dithering on the 10-bit output) but it's much more flexible. (It works with PS -it requires Quadro, FirePro or modded radeon- and MPC-HC -which works with every radeons which feature DP- but I use the sRGB preset for games and I use common targets -like gamma 2.2- for this preset...)