Sharp LCD LC-52SB55U

Hi guys I have a Sharp LC-52SB55U and I hear people saying to calibrate their TV to get better picture is there a possibility I can do that to this TV. Also is there a way I can change the title of my inputs so it can say (Example: PS3, Samsung DVD, HTPC,) and so on instead in Input 1, Input 2, Ect.Ect. Anyones help will be greatly appreciated.

Thank You