The target white point electronically speaking is 6500 kelvin. It's what those old guys decided should be the white level for video. I don't know why. It is why when you shoot a white tv screen it's blueish. You can change the temperature for the same reason you can adjust most parameters on your screen, which is to optimize your viewing enjoyment, or ideally to properly calibrate your monitor. It's a litttle confusing but the idea is that your 3200 or 5600 white (indoor or outdoor) is then translated to 6500 which is TV white. The viewfinder in your camera (assuming it's color) also has a 6500 white which means what you see is what you'll get. You have to be able to trust your monitor period, so try and avoid what looks pleasing in favor of what is. I think that right now the reason people are still suggesting the use of ntsc crts is because there are and have been standards that govern their use. LCDs and plasmas are a whole new bag with a less stringent set of protocols. I try and make my lcds look as much like ntsc crts as possible to avoid any translational difficulties.
The criteria for me is to make my new Panasonic LH1700Wp perform as close to a broadcast reference as possible. ie ...as close as possible to my Post House and the broadcast facility.
I have a CRT as well as this new monitor. They seem to relate reasonably well.
I will work with 6500 as you suggest meantime and try and monitor the results by trial and erorr (observation through the chain and process)
Russell-
Use the calibration tool in displays preferences. Set the gamma slider (left) first and then the color (right) then go back and adjust the gamma again. Go ahead and crank it to up make sure there's no color then set it where the apple is least visible. The goal is that in each setting the apple should be virtually invisible. Use native gamma and D65 for white point. I get pretty good results, brightness and pluge are where they should be and all the colors look right but I can never seem to dial in the green, which is a little darker than it should be. This is just an eyeball test but I look at color bars all day and I would trust the calibration for all but the most sensitive grading.