As I mainly shoot in the early or late parts of the day and hardly ever at midday, what light should I use to create my profile and I am assuming I only need a single profile and not a dual?
You only need
one profile, for daylight.
See:
In this 30 minute video, we’ll look into the creation and use of DNG camera profiles in three raw converters. The video covers:
What are DNG camera profiles, how do they differ from ICC camera profiles.
Misconceptions about DNG camera profiles.
Just when, and why do you need to build custom DNG camera profiles?
How to build custom DNG camera profiles using the X-rite Passport software.
The role of various illuminants on camera sensors and DNG camera profiles.
Dual Illuminant DNG camera profiles.
Examples of usage of DNG camera profiles in Lightroom, ACR, and Iridient Developer.
Low Rez (YouTube):
http://youtu.be/_fikTm8XIt4High Rez (download):
http://www.digitaldog.net/files/DNG%20Camera%20profile%20video.mov