Yeah, I wish OCIO in Max was accompanied by something (ICC) with the print guys in mind, too.
As for ICC profiling, there are two ways:
1. Additional hardware - colorimeter, plugged in via USB - comes with software that'll guide you through the process and profile your monitor by displaying different colors on your display while measuring the results and calculating the profile from that. You can set it to different targets (luminance, gamuts etc).
The result is an ICC file. It'll then set your OS to use that ICC profile (or guide you through the process). You can use it on any display and you can use separate profiles for each display, too. Your display should however meet some standards in terms of the gamut, otherwise you may not get correct color reproduction. If your display only makes 80% of let's say the AdobeRGB gamut, your display will not be able to display all colors of AdobeRGB of course.
If you've done it once it's easy to repeat, which you should do every few weeks. Some places need high accuracy and will need do this on a weekly basis since displays tend to age.
2. A display with a built-in colorimeter (for example certain Eizo displays, I have one and it's fantastic). You profile it once to a target gamut. You can then set a timer to validate the profile automatically periodically, for example every friday at 3am.
The resulting profile is then - at least in the case of the display I own - stored in the display itself and the Eizo software will sync your OS to use it, too. The advantage is that the device is now calibrated independently - ie, you can plug any other PC to that monitor, it'll still look correct (you'd still have to take care of the OS to use that profile).
This is a very convenient and care-free solution and it's well worth the extra money. I'm talking about Eizo here but it may apply to other vendors.
In any case, I've been working for print a lot and it really helps to know that what you see is what you get. I agree you may not need that accuracy in display-only-times apps but whenever I talk to clients about colors, it really helps to know I'm on the right side of things and can quickly end any discussion once they realize their display/phone whatever is just not a proper device to judge colors.
I remember well working at a studio once and 3 of us were comping different shot where the same asset was in full display, each of us on a separate PC/display next to each other. It was a shiny red car with a very distinct color and each displayed the color differently. Everyone was tempted to correct it but no one was able to tell which display was closer to the truth since nothing was ever calibrated in that place. This problem is not present when you calibrate displays and is the no1 reason I always went with calibration since then.
