The general rule of thumb is that you calibrate the display device, not the source. The Wow disk, among others, (I prefer the AVS HD709 disk) is good for doing an Accurate Picture Adjustment but that is not calibration unless you use meters and specialized software. However, you can get very good pq by adjusting the brightness, contrast, sharpness, aspect, and color using one of the calibration disks. You'd be best to adjust your tv with the BD player and one of the disks (making sure that there is no additional video processing going on with your BD player prior to sending the picture to the tv) and that all enhancements are off on your tv. For your Xbox I'd just make sure that it's setup to send the proper signal to the tv, again with no enhancements or additional video processing going in the Xbox. As far as which of the preset modes to calibrate on that's a tough one for your Vizio. I don't know how extensive your settings options are (if you can do 2-pt or 10-pt gray scale, CMS, etc) so that will limit you somewhat. I would think for movies you may want to adjust the Movie preset and then for games, adjust the Game preset, etc. Keep in mind that games don't always follow the rec.709 standards like movies do so that may take further tweaking. Write down your settings first if you like them just in case you mess things up. That way you can always go back to what was ok to begin with (unless the Vizio allows to save multiple adjustments for various inputs).