Is the sRGB-to-linear transformation actually done in the GPU's texturing hardware? nVidia's PTX ISA at least doesn't expose any sRGB-specific sampling opcodes.
See this, for example:
http://www.x.org/docs/AMD/R5xx_Acceleration_v1.5.pdf
Bit 21 of TXFORMAT0:
GAMMA 21 none Optionally remove gamma from texture before passing to
shader. Only apply to 8bit or less components.
POSSIBLE VALUES:
00 - Disable gamma removal
01 - Enable gamma removal
There is also support for re-applying gamma before storing to a color buffer.