I'm trying to understand a bit more about how Arnold for 3DS Max deals with colour space.
Blender has Filmic by default
Maya has colour management functionality
I've read posts In which 3DS Max still isn't colour managed. What effect is this having on my renders if anything? So long as I'm importing Linear Colour Space textures from Substance and correctly using Arnold lights would I be achieving a render with sufficient dynamic range?
As long as you're rendering out to EXR, you should be fine. That's always a raw color space. You can then take the EXR and convert it to whatever format or profile you need.
BTW, you shouldn't need to import linear color space textures... 3ds Max automagically converts embedded-gamma images such as sRGB to linear.
Max dosn't have color managment 😞 If you want it, please vote: