I'm color correcting on a Trinitron monitor but afterwards I check it out on the TV. To set up the TV I used the THX Optimizer on The Evil Dead II. There's also one on "The Incredibles." It gives me a pretty good picture that does a good job of complementing the output of the monitor, although the monitor output is still better.
You can get Digital Video Essentials. Works great to set up all your TVs. [And sound equip] I gotta warn ya though - It's painfully UN entertaining. Like watching someone reading an advanced physics text book or something - But very effective.