Yes full calibration can be expensive but as previously posted on this thread (by blueinsa) there is a lot you can do to make any TV perform better than its out of the box condition.
May I suggest you download this free disc from the AVS forum and follow the procedures explained in the dialogue.
http://www.avsforum.com/forum/139-display-calibration/948496-avs-hd-709-blu-ray-mp4-calibration.html
It will cost nothing in money just your time to burn it to disc.
I may be controversial in saying that I think pro calibration is a complete waste of money. Yes, you get a more accurate picture, but imho you don't get a "better" picture, in that the eyes are terrible colorimeters anyway and are in fact incapable of determining corrects hues and white balance. So the fact that your calibated TV's colours are spot on, is somewhat irrelevant.
I would agree with your advice entirely - just set up the TV yourself using some basic test patterns.
Your need to do 4 things:
1. Put the picture on a Warm setting (Warm1 or Warm2 typically). NOT normal, or god forbid cool!
2. Set the black level high enough such that you can just discern the darkest details, whilst at the same time enuring that things that should be black are as black as they can be. i.e. you don't want everything to be black with no detail.
3. Set the contrast as high as possible, but low enough so that you can determine the differences between the very brightest things on screen. i.e. you don't want everything to be pure white with no detail.
4. Adjust the backlight so that the picture is bright enough (or dark enough).
Once you've done all that, you'll have a picture that is pretty much as good to if you've had in professionally calibrated.
(Speaking as someone who's owned plasmas since 1999, now OLED and have several pro calibrations and I have my own pro colorimeter. I've come to the conclusion it isn't worth it.)