Hi,
My background is more still imagery, with the workflow target towards four colour print process, so I may be stepping on a few feet here, but...
(read my blurb here...)
http://www.cinematography.com/forum2004/in...showtopic=33250
The assumption that computer monitors don't have black is based on the knowledge that nearly all monitors are shipped out with too high brightness/background light level (200-350cd/m2) . This encourages burn out of the colourants, and increases sales when your £2000 proofing monitor starts showing colour fringng after a couple of years... (sarcasm off)
Anyway a properly (hardware) calibrated and software profiled device will have proper black. (assuming that 0 cd/m2 is black, tolerance 0.1 cd/m2)
Modern proofing monitors don't implement a gamma correction but rather use L* for the tonal response. (quato monitors do)
The gamut of the monitors can not only be described by their primaries, the ranges look like strange beasts. See my current profile attached. (white is FOGRA isocoated, White my current display)
The L* TRC can be adjusted to your liking values between 1.6 and 2.4 are common.
The advantage of using a monitor like this is that that the deviation between hardware calibration and ICC profile towards an output target is not done by the graphic card (at a loss of display gamut) but rather in the monitor. The monitor is connected via USB cable to the computer, where the calibration software feeds the monitor the ICC profile. The graphic card remains unaware of this and continues to send a full 255, 255, 255 range of signals. The conversion towards the target profile is then executed by a chip inside the monitor. (in 12 bit/channel)
On a system like this I would assume that you can safly carry out any grading you like, as (from experience) you can expect your colour rendering to fall within ΔE0.5 (ΔE1 being the limit where the "Standard Observer" will start to differentiate colours, and ΔE4 being the accepted deviation in print processes)
Hope this helps,
Wolfgang