For the typical user, if you get the blu-ray/dvd calibration essentials you can use it to perform some basic calibrations to your set. Out of the box, the settings will need some refined tuning and may consider turning off some of the picture enhancements which may affect the viewing for people who like to see the original picture as much as possible.
Now for video enthusiasts, it's not considered calibrated by them and would recommend having the set calibrated by a ISF Professional Calibrator to set the TV up. If you're willing to pay for it, this will be the ideal way to go.
http://www.imagingscience.com/
How Much Does ISF Calibration Cost? - ISF Forum
ISF Calibrators, where are you located? Please post here!
As for getting quality cables, I recommend getting them from Blue Jeans cable. They are one of the highly recommended ones from members of the AVSForum as I have some of their cables myself.
http://www.bluejeanscable.com/