We must have different information sources;
1. Pro photo printers can do a few hundred thousand colours (around half or even less than half of your numbers - the numbers I saw varied from around 250,000 to around 375,000). I can't find the article where I saw these numbers (thought it might have been at Luminous Landscape, but I can't find it right now;
2. According to some sources human eyes can see close to 10 million distinct colours
http://hypertextbook.com/facts/2006/...erLeong.shtml; and
3. The best monitors (including dithering techniques) are at least 16 million distinct colours, and potentially much higher than that. At least that is what the manufacturers claim, but as their techniques are proprietary, that would be hard to validate. IPS monitors are natively 8-bits per channel and in theory can emulate 10-bits per channel.