At work I'm using a high resolution, but poor quality monitor.
I've tried the manual calibration in the Monitor control panel but it just made things worse.
When mentioning this to our graphic designer he said that where he works they hire someone to come out and calibrate monitors for a few hundred dollars.
On the way home I dropped by Maccentric in Chatwood (a fine store by the way) and found that a Spyder2 express was AU$169 so I bought one on the spot.
The upshot of all this is, yes it has made the monitor work better but, my goodness, this is archaic software! I presume the PC version is better.
The profile it first installed disappeared when I switched from it in Display preferences. When it installed it left an unexecutable application on my desktop - perhaps a PowerPC application? When I rebooted, a generic app bounced in the dock for a considerable time. (I've now removed it from startup items).
Great idea, reasonable price, bad Mac software.