Decklink for color correct -- unusable?

Recently installed Decklink HD extreme, figured out how to get it working (I think). Have an HDV timeline at 24p, had initially corrected just via my 30" dell monitor as I edited. I burned a DVD from the timeline to see how far off it was, there were problems, some scenes too hot, etc., but by and large it didn't look too bad.

I hooked up my sony PVM-14L5 monitor to the Decklink Y out (component) cable to component in to the Sony (don't have any sdi on this monitor).

After balancing color bars, the show looked very hot in the Sony, a LOT of detail blown out on the monitor but which is there solid in the picture on the Dell screen.

So I corrected a few minutes of the show last night, making it look good in the Sony monitor, burned it onto a DVD, and then played this morning on 3 different TVs. In each case the CC I did using the Decklink/Sony is VERY dark, where I saturated color, it's WAY over saturated, and basically the correcting I did using the Sony monitor and decklink is unusable and not nearly as good as what I did just off the Dell computer monitor.

Is this a problem with my decklink card? Why would there be such a disparity between what I'm seeing on the 14" Sony broadcast monitor and how it looks when I play it on other TVs? This is the same monitor I used when shooting and had the camera hooked up to it most of the time, and the shots from camera into this monitor looked good, not all blown out as they do from the timeline.

At this point, it's more reliable for me to color correct from my computer screen (making adjustments from what I learned looking at the DVD output I did) versus trying to use the decklink card.

Could I have it set up wrong? Could I have a bad card?

How I have it set up is in System Preferences, output is "SDI & NTSC/PAL (Y Out)" I have Enbale HDTV Up/Down Converter Output set to HD to SD Letterbox 16:9 (the Sony is a 16:9-capable monitor) and Enable NTSC Setup as "7.5 IRE Setup -- Used in USA"

As far as the settings inside FCP 5.1.4, I have view all frames and output is Blackmagic HDTV 1080p 23976Hz - 8 bit (1920 x 1080) I've tried the 10 bit setting, no difference.

Any thoughts?

Thanks.

I made an important discovery -- if you have your BNC cable plugged into the Composite OUT plug on the back of your Sony monitor, it's going to do funky things! So I corrected, and plugged into the Composite IN plug in the Sony...and it's an entirely different picture!

Operator error!