I work around font files for a living.
Kerning data is stored in the font file by the font designer. All the shaping engine can do is choose to use it or not.
If you like calibre formatted books better, it will be because of the choice of font rather than anything else. That means that youshould be able to tell Book Designer to use the same fonts and get the same appearance.
Rember that most fonts were designed for use on printers that do at least 300 dots per inch while we have only 160 (and computer screens usually run 96). The more dots, the more precise you can be about placeing gyphs next to each other and so the better you can make the text look.
Microsoft has invested a lot in making fonts that look good at 96 dpi. If you get the chance, compare the fonts that were new for Vista with the older ones.
The ony problem with using better fonts is that most people won't have them installed.
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