Calibrating your monitor ensures that you see what everyone else sees. Generally it's a good idea to turn off the gamma and color correction in your image editor, and make these corrections system-wide. This way an image will look the same in your browser as it will in your editor.
Turn Contrast to maximum. Adjust Brightness until all 20 shades are visible in each table.
The Amazing Gamma Measuring Applet determine your monitor's gamma (Windows default 2.5)
Luminous Landscape System Colour Calibration
shAf's display management page Definitions and calibration
Monitor Tests Test your monitor online with PC Magazine and DisplayMate
Accurate Image Manipulation Timo Autiokari's controversial color calibration
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