What is the difference between selecting 16-bit vs. matrix when choosing the "profile type"? My understanding is that LUT < Matrix < 3D-LUT. However, it is not clear whether the LUTs in the drop down are 3D LUTS or not.
Matrix vs. Lookup Tables
Your monitor profiling software will offer you a choice between making a matrix profile or a look-up table profile. A matrix profile consists of a simple mathematical formula that describes the shape of the gamut. This results in a very small file size, and these profiles can be smoother in transitions (less banding), but perhaps less accurate hue-wise.
Look-up table profiles (or LUTS) define color using a table or grid describing the behavior of precise points of color in the monitor. These create larger file sizes, and can accurately handle monitors that have sudden spikes of color (as many LCD’s do).
In general terms, older CRT’s and some of the upper end LCD screens can be profiled very successfully using matrix profiles, and you can turn to a matrix profile if you are willing to sacrifice a bit of color accuracy for a reduction in banding on your LCD monitor. Otherwise, it is generally recommended that you choose to make LUT profiles for the average, modern LCD.
8-bit vs. 16-bit profiles
The 16-bit option gives more precision in profiles and should be used whenever possible.
The SW2700PT is 3D-LUT – 14bits