I have only experimented a little with the profile Creator. I personally just became frustrated with my attempts. The profiles provided by Adobe are created specifically for your camera. The Adobe standard profile is one created by Adobe using their standard. The Faithful, Neutral, etc. are profiles created by Adobe that are supposed to match the corresponding settings in your camera. Lightroom and ACR do not read those in-camera settings in raw images for any camera. So for some cameras profiles are created that are designed to replicate the effect those settings have on JPEG images while still giving you the benefits that are available when shooting raw.
It would be good to know how the Adobe Standard was created. Right now I am trying to profile my digital camera using the standard 24-patch colour chart under both daylight and tungsten lighting (dual illuminant). My point is though - what is the point in me doing this if the Adobe Standard Profile already achieves this?
Unfortunately, I cannot tell you what process is used to create the Adobe Standard profile. I don't use that profile very often with my cameras anyway. But since I had such limited success using the DNG Profile Creator, I have obtained better results by simply creating a few presets that compensate for special lighting situations. I use a Nikon D90, and I have found that the Camera Neutral profile works best for me most of the time. Occasionally I will use one of the other camera matching profiles. With my limited knowledge of creating my own profiles, I find I get much better results using my method.
The DNG Profile Creator, I think, can be of greatest value when you have a special lighting situation. And since most of my pictures are either flash pictures of my family or outdoor scenic photographs, I have found that my attempts using the Profile Creator have simply been a waste of my time. I know that others have a lot of success with it.