John--I am not familiar with this particular monitor but I have seen crappy ones before and no matter how well you calibrate them if they are lousy to start with they can only be capable of doing not very much, calibrated or not. Yes, seeing the image would be better than not having any monitor at all--but a decent monitor would be so much better. You do want a good one since you want to accurately see and adjust what you have photographed, and print what you are seeing. As far as calibration software I and some others I know use Eye-One Display 2, made by Gretag Macbeth. I have been very happy with it. It has a little suction cup unit that you hang on the front of your monitor and it makes the proper calculations with a bit of assistance from the user. Here is a local link I found.
http://www.gretagmacbeth.com/index/products/products_color-mgmt-spec/products_cm-for-creatives/products_eye-one-display.htm?