You may actually get more mileage from creating a custom view style for the list(s).
This would allow you to completely change the way the column displays html-wise, without needing to add a calculated field.
Alternativley you could also consider that it is possible to do some very funky things with a custom field definition just in the schemaxml. As an example I include the schema xml for one of the "name" fields in an ordinary publishing pages library.
<Field ID="{9d30f126-ba48-446b-b8f9-83745f322ebe}" ReadOnly="TRUE" Type="Computed" Name="LinkFilenameNoMenu" DisplayName="Name" DisplayNameSrcField="FileLeafRef" Filterable="FALSE" AuthoringInfo="(linked to document)" SourceID="http://schemas.microsoft.com/sharepoint/v3" StaticName="LinkFilenameNoMenu" FromBaseType="TRUE"><FieldRefs><FieldRef Name="FileLeafRef" /><FieldRef Name="FSObjType" /><FieldRef Name="Created_x0020_Date" /><FieldRef Name="FileRef" /><FieldRef Name="File_x0020_Type" /><FieldRef Name="ContentTypeId" /><FieldRef Name="PermMask" /><FieldRef Name="CheckoutUser" /><FieldRef Name="IsCheckedoutToLocal" /></FieldRefs><DisplayPattern><IfEqual><Expr1><LookupColumn Name="FSObjType" /></Expr1><Expr2>1</Expr2><Then><FieldSwitch><Expr><GetVar Name="RecursiveView" /></Expr><Case Value="1"><LookupColumn Name="FileLeafRef" HTMLEncode="TRUE" /></Case><Default><SetVar Name="UnencodedFilterLink"><SetVar Name="RootFolder"><HTML>/</HTML><LookupColumn Name="FileRef" /></SetVar><SetVar Name="FolderCTID"><FieldSwitch><Expr><ListProperty Select="EnableContentTypes" /></Expr><Case Value="1"><Column Name="ContentTypeId" /></Case></FieldSwitch></SetVar><FilterLink Default="" Paged="FALSE" /></SetVar><HTML><![CDATA[<A onfocus="OnLink(this)" HREF="]]></HTML><GetVar Name="UnencodedFilterLink" HTMLEncode="TRUE" /><HTML><![CDATA[" onclick="javascript:EnterFolder(']]></HTML><ScriptQuote NotAddingQuote="TRUE"><GetVar Name="UnencodedFilterLink" /></ScriptQuote><HTML><![CDATA[');return false;">]]></HTML><LookupColumn Name="FileLeafRef" HTMLEncode="TRUE" /><IfEqual><Expr1><GetVar Name="ShowAccessibleIcon" /></Expr1><Expr2>1</Expr2><Then><HTML><![CDATA[<img src="/_layouts/images/blank.gif" class="ms-hidden" border=0 width=1 height=1 alt="]]></HTML><HTML>Use SHIFT+ENTER to open the menu (new window).</HTML><HTML><![CDATA[">]]></HTML></Then></IfEqual><HTML><![CDATA[</A>]]></HTML></Default></FieldSwitch></Then><Else><HTML><![CDATA[<A onfocus="OnLink(this)" HREF="]]></HTML><Field Name="ServerUrl" URLEncodeAsURL="TRUE" /><HTML><![CDATA[" onclick="return DispEx(this,event,']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ServerProperty Select="HtmlTransform" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ServerProperty Select="HtmlTrAcceptType"><Column Name="File_x0020_Type" /></ServerProperty></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ServerProperty Select="HtmlTrHandleUrl"><Column Name="File_x0020_Type" /></ServerProperty></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ServerProperty Select="HtmlTrProgId"><Column Name="File_x0020_Type" /></ServerProperty></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ListProperty Select="DefaultItemOpen" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><MapToControl><Column Name="HTML_x0020_File_x0020_Type" /><HTML>|</HTML><Column Name="File_x0020_Type" /></MapToControl></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><Column Name="HTML_x0020_File_x0020_Type" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ServerProperty Select="GetServerFileRedirect"><Field Name="ServerUrl" /><HTML>|</HTML><Column Name="HTML_x0020_File_x0020_Type" /></ServerProperty></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><Column Name="CheckoutUser" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><UserID AllowAnonymous="TRUE" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><ListProperty Select="ForceCheckout" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><Field Name="IsCheckedoutToLocal" /></ScriptQuote><HTML><![CDATA[',']]></HTML><ScriptQuote NotAddingQuote="TRUE"><Field Name="PermMask" /></ScriptQuote><HTML><![CDATA[')">]]></HTML><UrlBaseName HTMLEncode="TRUE"><LookupColumn Name="FileLeafRef" /></UrlBaseName><IfEqual><Expr1><GetVar Name="ShowAccessibleIcon" /></Expr1><Expr2>1</Expr2><Then><HTML><![CDATA[<img src="/_layouts/images/blank.gif" class="ms-hidden" border=0 width=1 height=1 alt="]]></HTML><HTML>Use SHIFT+ENTER to open the menu (new window).</HTML><HTML><![CDATA[">]]></HTML></Then></IfEqual><HTML><![CDATA[</A>]]></HTML><IfNew Name="Created_x0020_Date"><HTML><![CDATA[<IMG SRC="/_layouts/1033/images/new.gif" alt="]]></HTML><HTML>New</HTML><HTML><![CDATA[">]]></HTML></IfNew></Else></IfEqual></DisplayPattern></Field>
Nasty, but potent.