No, you would not waste money if you calibrate it yourself with proper hard- and software. Your eyes can't beat a colori/spectrometer and you will notice improvement.
Buy a X-Rite OEM i1Display Pro 3 (hardware) with SpectraCal CalMan or ChromaPure (software) for about $500. I think both software packages even come with a DLA-RS45 auto-calibration feature nowadays. If you want more accuracy you could buy a X-Rite i1Pro later and combine it with the first. There are not so many more options in this price range (maybe 2nd hand and combining with free software like HFCR).
Btw. I would advice you to check your settings for screen adjust (check this), proper HDMI setting (htpc 0-255 enhanced, player 16-234 standard), low lens aperture (-15 to -10), cinema mode, color space standard, high gamma correction value (>2.4). If done, recheck brightness and contrast with video essentials.
Edited by NL-MindfluX - 7/15/12 at 6:25pm