I have done a modification to include qPCR efficiency in the calculations:
In a given gene I calculate the fold changes relative to an arbitrary sample. That sample will be one and the rest will vary according to 2-dCT (equation 13 in Livaks paper). The efficiency comes into play when 2 becomes 1+efficiency (e.g. 1.9 when efficiency is 90%).
The gene of interest will be normalized by the reference gene: $$\frac{(1+\text{efficiency})^{-\Delta CT_\text{GOI}}}{(1+\text{efficiency})^{-\Delta CT_\text{ref.}}}$$
This makes sense to me more because it includes PCR efficiency and keeps the all groups in the calculations. But I can't tell if I am missing somethng, since no one has descirbed this approach before.
What do you think?