This is the wheelhouse of my photo editing. I do it right after NR. I seldom need to touch WB, exposure or worry about colour casts if I use this. I set black to zero, white to 250 and often reduce luminance on the White Point (down to about 98%). I'd like to know where else to find this level of control?
In ACR you use the black and white sliders when not in ACR you can use the black and white eye droppers in the curves or levels module. The key is once you select a dropper. hold down the ALT key and it will show you the clipped image for that color to help you select.
In ACR you can hold down shift and double-click the black and white sliders to apply the black and white points automatically. But I want to set the white point at (250,250, 250). Not sure how to do this in ACR. In Photoshop levels it is easy, but I can't confirm that ACR is using the same white point.