The results have been surprising, actually. My testing is purely empirical, not as scientific as many here would prefer. Be that as it may there have been a few surprises.
Having used the HP Hahnemühle Watercolor profile, calibrating the canvas to that, it seems to be quite good - at least some improvement over HP Pro Matte Canvas. A custom profile based on HP Litho-Realistic works very good as well.
The surprise comes when using some of the Gloss or Pearl Paper ink set presets, such as Fine Art Pearl More Ink GE ON. I fiddled with that one and made a custom profile and the results were very good. Different - no color shift, but much more open. (See attached)
Global Ink Limits - 100
Gloss Enhancer ON - 70
Cutter Off
Very interesting - quite vivid.
I played around with several others, even including a gloss with GE on and off but not that great.
MY favorite, even considering FA Canvas More Ink, Less Ink, HP Pro Matte Canvas - etc., is
The HP Hahnemühle Watercolor Profile. Seems to be the best for what I'm doing.
On Frederix 777, it works fine, but the FA Pearl More Ink GE ON seems to be best.
All in all, I have concluded that the results show very subtle differences between various correctly applied profiles.
I'll stand by my conclusion that it's just ink, specific grays and blacks, and put down according to the limit settings.
The GE really only deals with bronzing, but the results are interesting on canvas.
All these combinations of settings show extremely subtle differences to the eye. If you're picky maybe try them.
But I conclude that HP Pro Matte Setting is fine under normal circumstances.
If you want to push the envelope, try the Fine Art Pearl More Ink GE ON like I made.
My favorite is the HP Hahnemühle Watercolor Paper profile. That's my conclusion at this point.
-Mark