C'mon guys, he specifically was asking for help with picture settings.
The Video Essentials LD will only help a non-CRT display with Brightness, Saturation and Hue, as you probably already know. Contrast is tricky as the contrast patterns are no good on your LCD TV, but krbahr (on the LDDB forum) had this to say:
Originally Posted by krbahr
The first thing is go to the pulge pattern. It has an area with below black next to black next to just above black. Adjust the brightness so you cannot see the below black, it will be equal to the black, and you can also just see the above black. Could be interesting with LCD or LED area darkening TV's so you may just have to adjust to where you just start to see the above black bar. Then go to the gray scale step pattern and adjust the contrast so that you see each step getting brighter. Once the brightest steps stop getting whiter together the the lower starts to equal the higher step you have gone to far. This is the maximum contrast you want to have. You can now adjust it lower it that pleases you but don't go higher unless you don't care you loose top end brightness.