The source engine has all AA and AF settings available inside the games, so I don't think it's necessary to create a profile for them. Just use the in-game options The only exception is Vampire Bloodlines, which doesn't have these settings (not even using the console or switches), so a profile is a must have.
Morphological AA is useful for games that do not support regular AA at all. E.g. games that use deferred rendering, some PoP games etc. I wouldn't use it on games that support regular AA as it makes font corruption and the image becomes a bit blurry as well.
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