I do not understand the point in going “forward Print Film Emulation (PFE)” -> “Inverse ODT Inverse RRT” -> “RRT+ODT”, from a systematical and educational standpoint.
This reads the same as “apply the FilmLut and then enter ACES through the ‘bottle neck back door or Rec.1886/709’”
LMTs constructed this way will undermine one of the biggest goals of ACES which is short- and medium term “future-proof-ness”. If you apply the LMT and back it in your ACES Linear AP0 archive master you basically archive rec709 or P3 but not the “indirect output referred” - scene referred data.
Also, your LMT will have all the caveats a PFE brings when applying to digital data, like out of gamut errors etc.
Going inverse ODT/RRT might look ok when again viewed forward RRT/ODT, but it can produce highly unstable ACES Scene referred data. If you apply gradings after the LMT you can reveal errors which were hidden before. So combining different LMTs to produce new LMTs is not really possible or highly unstable.
It is much harder to construct good LMTs which are not limiting the dynamic range and gamut and at the same time produce the same intended look. Also if the “Display Rendering Transform” introduces too much “look” by its own it is harder to produce another “look”.
I hope some of this makes sense