Sorry I didn't read all the response to my first game post, I'm at work and just popping into the thread, but I just wanted to follow up that as the first response noted, I only gave the "second" of the two calibration settings.
When I go home I'll post the first of the settings, FWTW.
In general, I used the calibration method that is the "reference" standard over on the Rockband forums where you start with the second test, then back to the first, then the second. Sorry I don't have a link, but it's not too hard to find.
I configured Rockband using the settings I listed previously (Pure mode, etc.). I have a 360 over component and, this is important and I should have mentioned this, it's going through my Onkyo 905.
Sorry I omitted that as it probably contributed to the lag (and the controversy).
The configuration settings for the drums at about 120ish are perfectly in sync with sound. I'm pretty confident in them. For the record, I'm ranked in the mid-3000's in the Solo Career on drums, so I'm not terrible, but no superstar (about 10 gold-starred songs for those that know what that means).
However, I had to recalibrate for the guitar. On guitar it was better at about 80-95ms. I need to find a happy medium for guitar and drums. I'm only a "Hard (little bit of Expert)" guitar player, so I prefer accuracy on drums over guitar.
The only other game I've played since getting the 151 is GTA IV and I haven't noticed any lag problems, but my play time has been pretty minimal.
One last thing is the -8 brightness, which I noticed as I skimmed through the posts. Perhaps that's not ideal, I'm not a professional calibrator. I do know that any higher and pure black becomes a gray, and everything else correspondingly grayer. In fact, I set the -8 with a nearly full black computer graphic in HD on the screen (with a few color elements for reference). I didn't trust having a baseline black from a "live" image.
If it leads to some black crush, as somebody mentioned it earlier, so be it. However, with these settings, I watched nature show on HDNet last night and there was a black bird, partially in shadow, and I was happy with the separation in the various blacks/grays. -8 was so far down from the original reference settings that I based everything on, I've been hyper-aware of it being potentially too dark. So I constantly go up, -7, -6, -5, etc. and the graying of the image is too much. Everything starts looking washed out.