One of the things that I have been doing over on Chris Creamer's Sports Logos message board, is with something that I have been calling "color-optimization" of graphics for display on computer monitors.
I have been taking vector-based graphics (EPS or AI format graphics) and "adjusting" the RGB values of the embedded Pantone/PMS values to more closely match what the spot colors would look like if they were printed using Pantone inks.
Adobe Illustrator (especially some of the pre-CS versions) perform a conversion to RGB from CMYK for monitor display. The CMYK conversions are wildly inaccurate for the most part. Newer versions of AI (CS*) convert from CIE-L*ab measurements which are much closer.
Pantone, Inc. has performed extensive Lab measurements of their spot (both PMS and Goe) and textile colors in order to most accurately simulate these colors in RGB. I store all of this information in my ColorWerx database, and use these values when "adjusting" the RGB values in graphics for on-screen usage.
For example, here is a comparison of the Utah Jazz of the NBA, and their logo that they used between 1996-1997 and 2003-2004:

Notice the dramatic differences between the Purple and Copper especially. The graphic on the bottom would very closely match this logo if it were printed using Pantone spot colors (e.g., using Pantone inks).
I have been able to utilize VBA scripting to create my own RGB swatch libraries for this purpose. From my database, I have created the following libraries:
- PMS Solid Coated
- PMS Solid Matte
- PMS Solid Uncoated
- PMS Solid Coated – Double Impression
- PMS Metallics Coated
- PMS Metallics Coated-Varnished
- PMS Metallics Matte (what little values I have)
- PMS Metallics Uncoated (again, what little values I have)
- PMS Pastels Coated
- PMS Pastels Uncoated
- Goe Solid Coated
- Goe Solid Uncoated
- Textiles Cotton
- Textiles Paper
In my mind - as someone who is NOT a graphic design professional, but more of a color science hobbyist - wouldn't you want to use the graphic on the bottom for web and broadcast use over the graphic on the top? Then, you would also need to produce a separate version for CMYK (using the CMYK values as specified in Pantone's Color Bridge guide).
More and more graphic designers are specifying separate graphics for video use, using the RGB values that Illustrator and/or Photoshop natively produces is NOT an accurate solution. I am hoping that my approach could someday be used on a wider scale.
Please - any and all suggestions, concerns, criticisms, corrections, etc. would be greatly appreciated. Tell me where I'm wrong (!)...