Well, what I'm saying is that it's most desireable to have an adjustable gamma, because despite the conventions (and, in fact, because of them: apparently the Macintosh's gamma is supposed to be 1.8, according to the link andypski posted), not all monitors have the same gamma. Or, potentially, that gamma may deteriorate over time, as radargs posted.
I know that my old monitor, for instance, was closer to a gamma of 1.8 than it was to 2.2. So, yes, it is the job of the video card to do the gamma correction on output, and all video cards have that setting, and it is adjustable.
The issue isn't for the output in this case. The issue is that if you want to be correct, any average that is made in color space should be done in the monitor's color space. The problem is that this will typically require the video card to, every time it does a color average (whether it be texture sampling, FSAA sample recombination, or whatever), it should first do an "inverse gamma adjustment," then average, then do the normal gamma adjustment. This is what ATI does on the FSAA sampling.
Now, another way to do this would be to get it done entirely in software: put all textures in linear color space before rendering. Then, all averaging that is done, right up to the FSAA sampling, will be correct. All you need after that is to use the video card's built-in gamma adjustment on output and you're done.
What are the problems with this approach? Well, put simply, precision suffers. The only real way around precision problems are to use floating point textures and framebuffers (you'd probably also need a higher-than-8 bits per color output buffer...Matrox' 10-10-10-2 buffer as a rendertarget for the tone mapping pass would be great here). The basic reason why precision suffers is that gamma adjustment, on one end of the color spectrum, maps a few values in linear space to many values in screen space. This causes banding. You can see this effect very easily by just turning the gamma way up in any game. I don't know whether using an 8-bit buffer and gamma-corrected source art would result in significant noticeable banding in most situations in today's games or not (though dark areas/games are always more susceptible).