A calibrated monitor is a start. Either way you do that (adobe gamma or calibrating device), you still should use the info pallet to check highlight,midtones and shadows. This is because your eyes adapt to the viewing screen.
When using inkjets, you have to find out what the gamut of the printer is. Most are sRGB. Using the sRGB color space is a good choice for this. Some can be wide gamut printers. The industry itself (some printer,camera, scanner companies) is moving in this direction for labeling their color output. Whether this is the correct tagging they do is well debated, past and present. Either way you can use another profile for screen appearence for that file if you wanted to.
Assigning a proflie does not change the file numbers(leaves the file untouched), just the color appearence on screen. Its when you convert the image that the numbers change(altering the file). It takes on the screen appearence(color) of the assign profile. I feel this is where a lot of users are having problems with this and also how they have their color management set.
Converting (in color management terms), there is no color change going on. The whole purpose of color management is consistent color from device to device. Now, this is a deep topic. What is happening are other things, gamut limitations of the device, how a device handles out of gamut colors (rendering intents). Its picking something close of what that device can print.
Profiles (for output) just shows how that device is going to print colors, what colors it can and cannot print.
While you can't "calibrate" some inkjets. You can adjust the media settings for the software for that inkjet....The settings are (depends on the inkjet) Best......Normal.....Econo....This controls the amount of ink hitting the paper......Then you you pick your paper type. This varies........Glossie,Matte,Photo,inkjet. Its a good idea to use paper(the company who made the inkjet) made for that printer. But you can use third party paper. Most of the time if you do use third party paper. You will want to have a custom profile made for it. Otherwise, its more of a trial and error for the testing.
Here is a link to using profiles for color correction
http://ep.pennnet.com/Articles/Artic...Dan%20Margulis
You will need to register.
Also their is a book out called "Real World Color Management" about color management as well.
Here's their website.
http://www.colorremedies.com/realworldcolor/
This is an article for printing to inkjets.
http://www.colorremedies.com/article...psheet.pdf.zip
A sample chapter from "Photoshop Restoration And Retouching"
http://www.digitalretouch.org http://www.digitalretouch.org/2editi...lorcorrect.pdf
In this chapter, She explains using "false profiles"
John