Further on my browsing and study, found a FREE software solution 'ArgyllCMS'. It is open source, and people acclaim it's effectiveness. Then why on earth I spent some $2000 on i1Photo pro2, is my question. Some suggested ArgyllCMS+Colormunki hardware is best. Some sharing please...
You're paying at least $450 to $1500 for the hardware to handle chart/spot reading (as a true spectrophotometer). At the cheapest you would be spending about $450 for a ColorMunki Photo which is UV-cut as Czornyj mentions (with other issues), or possibly $1150 for the i1Pro2 hardware (in the i1 Basic Pro 2 configuration) which handles both UV-cut and no filter recordings however I'd recommend getting i1Photo Pro 2 so you could at least do RGB profiles. (That's assuming you're buying new - you could get a cheaper second hand i1Pro however there are quite a few combos released over the years that limit what you can do*).
You could use Argyll CMS as Simon mentions with DispCal GUI for monitor profiling or you could use Argyll CMS GUI + the command line tools if you wanted to experiment with chart or spot reading. However, your milage would vary with how much time you can put into it, as Czornyj says. If you wanted to you could download the i1Profiler software (in demo mode) to compare with Argyll CMS to see which one would be easiest to handle for what you're trying to do. You can check the docs for Argyll here
. Unfortunately I haven't really gotten into Argyll myself - mostly due to lack of time to devote to it unfortunately!
Getting back to your original question i1Profiler itself won't do Camera calibration (though it would do the Monitor and Printer calibration) as you'd need the ColorChecker Passport software or other software + photographable target such as one of the ColorCheckers (original, Passport or SG), SpyderCheckr or some other target with known or measure values you can use to help build the camera profile. In general once you have a target (usually you get the ColorChecker Mini with i1 Photo Pro 2) you can photograph this and use it with different software packages. It'll be up to you to try out and find which one works best for you in your workflow.
* When it comes to second hand i1 Pro's there's a stack of them on the market that have different licensing which breaks down to roughly:
1) Whether you have a license for i1Match or i1Profiler (some rare ones have both if they were upgraded) - if it was a 3rd party OEM product bundled with EFI or CalMAN/ChromaPure it may have no licenses at all.
2) What features are enabled in i1Match (from memory camera, profile editor, CMYK, RGB and scanner support could be enabled from i1Basic Pro).
3) What features are enabled in i1Profiler (generally just Display, then options for Scanner/Camera + RGB or then +CMYK profiling).
None of the above impacts Argyll CMS however, only i1Profiler or i1Match (less of a problem as it's been deprecated). If you were after i1Profiler and buying second hand you should get the i1 Photo Pro bundle (version 1 or 2 with i1Profiler), otherwise it's likely it wouldn't be licensed. If you were happy with Argyll CMS you don't have to worry - you're after the hardware only.
Note: X-Rite changed the names around, so you may see the older bundles as Eye-One (instead of i1), or i1Basic, i1XT, i1XTreme, i1Photo, i1Photo SG, i1Proof, etc with or without UV-cut. So gets pretty difficult to work out exactly what you're getting sometimes on second hand deals.