I am glad to see consumers are becoming more educated about calibration. The test discs can get you close but probably wont be able to help correct decoder issues (Red push) or poor white balance but will improve the picture.
With audio, I would suggest an spl meter for setting speaker levels but may need more to setup the subwoofer. A cheap sub will sound alot better if properly setup.
Diplomacy is the art of saying hire a pro without actually saying hire a pro