Calibration settings source and screen review.

This Kodi Wiki on video levels and color space goes in-depth about color space conversion from source to screen.

In my experience, if I set my GPU's Output dynamic range to Full (0-255) mode, and use the below calibration settings, the darks are too dark and their detail is not visible. I can retrieve that detail by pushing the Brightness higher. If I tell Kodi to use Limited colour range (16-235), that will negate the need for adjusting the brightness, however the brightness jump of blacks due to limiting is too much for my preference.

Ironically, the Kodi Wiki suggests for best results doing: Kodi|Limited → GPU|Full → TV|Limited. In the case of this screen, TV|Limited appears to be HDMI Black Level set to Normal. The problem with this configuration is if I try a similar approach with my Xbox One, by setting its color range to PC RGB, the blacks get completely crushed. I can't even complete the calibration wizard because black detail is literally thrown away, no matter how high the brightness is pushed. This means Xbox One's color range should be set to Limited, and the TV's HDMI Black Level should be set to Low. Here is a relevant Reddit thread.

Of course, it's possible to configure different settings per TV input, and I may do that. At least I now understand why things look the way they do.