Lets make things simple. With current techs, on a scale of 1 to 10 (one being crap and ten being best quality available) the quality would be something like:
Super 8 = 2
Calibrated Super 8 = 2.2
vhs on standard tv = 4
DVD on standard tv = 5
DVD on calibrated tv = 5.5
HD format on HDTV = 9
HD format on HDTV quick calibrated = 9.5
HD format on fully calibrated HDTV theatre system = 10
Calibration slightly improves the viewing experience, but the basic format/viewing method is going to have a much bigger effect than calibration or no., With that said, it\'s crazy to invest a few grand setting up an HD home theatre and not taking the few minutes it takes to perform at least simple calibrations (sound and video). For people who watch/listen to a lot of media, they will want to invest the time AND money it would take to do a full system calibration, so that for the hundreds/thousands of hours they use their system they will be getting the best possible quality.
This makes many assumptions, but they\'re fairly straightforward, things like \'people spending thousands on a HD theatre will also spend some money optimizing their room layouts/design, researching purchases\' etc, etc.
Oh, and mm, you can rent all the necessary tools to do a full audio and visual calibration for a day for about 20 bucks, and if you do the reading ahead of time, it\'s all you need. No need to spend hundreds or more than an hour or two.