Thanks Alex, I hope this thread can lend some clarity to the workflow.
I was the DMP lead working with Alex during the implementation of this display referred workflow and I must say at first I was extremely nervous. “What about the golden rule about never adjusting the pixels?” I bleated. ‘Baking in’ the transforms seemed heavy handed and…barbaric!
My fears were put to rest however once we got the round trip working and it became obvious there was a 1-1 colour match. The 16 stop limitation was not a problem, giving more than enough perceptual range…any very bright shots could be stopped down in nuke before export and then popped back after the round trip as we would normally anyway.
Photoshop works as if you are working in Srgb, colour swatches are normalised, incoming images can be converted on the fly, images are converted confidently.
The bonus was, the display referred .icc profile, once installed meant that all of my other software could display it as well. I used it to write out from Lightroom, you could view the images as you would any srgb image in Bridge, ACES became invisible.
That being said, having left the security of my former employment, I will be back with some forehead slapping questions as to how to set this up!