I'm using the calibration settings that were posted on page 22 of the official Z thread. I don't know much about calibrating or anything else as this is my first HDTV, but it does look pretty good compared to the other settings. Here is part of that post....
So I put my DVE calibration disk in the PS3 through HDMI and gave it a quick calibration. Used the Brightness/ contrast test, the color decoder with the film screen for Blue, Red, Green, and the sharpness test. I am definately an amatuer enthusiast and by no means a calibration expert but alot of this is subjective also, as long as you are on the right track with the settings.
They can vary slightly from the panels baseline calibration
This is what I got for "my" panel.
Picture mode: custom
Hue : G1
Color Temp: Neutral
Noise Red: Off
Mpeg Noise: Off
Black Corrector: Low
Advaanced CE: Low
Clear white: Low
Color Space: Wide
Live color: Off
White Balance: Have not touched.
Visually I believe its pushing the red a bit and I have yet to be able to lower that red saturation withought affecting too much of the rest of the colors. I will keep trying, and any suggestions would greatly be appreciated.
Color space set to wide gives a much more lively color palette, which I prefer.
Color space, i believe, has the largest affect on color vibrance and there is a substantial difference between normal and wide. My calibration is on the wide setting. I am sure if you prefer the normal setting for color space, you will probably get different settings.
Your first choice when you calibrate is choosing between normal and wide on the color space and then go through the color calibration.