<<<Make sure you use a calibrated NTSC monitor too...>>>
Oddly enough, I don't completely agree with you. While I think owning one of these things is a grand idea under any circumstances, Ishmeal isn't doing absolute color correction. He's doing relative correction--one scene must be made to match all the others. That's a great deal easier to do and you don't need a surgically correct monitor to do it, either.
If all the other scenes in the show are more or less correct, you may be able to use some shortcuts. See those eye dropper tools in the three-way color corrector? If you know for a fact that some pieces of the scene are neutral, you can use the white, gray and black eyedroppers to **force** that part to be neutral. If the talent is wearing a gray sweater, fore example, you're in gold.
That can save a bunch of hand work.
Koz