Hi
There is no such thing as having the correct picture settings as everyone's vision is different to one another but if you want to get a great picture and what the industry refers to, then there is one thing you can do, you can calibrate the screen to "THX" standards which is what mostly people set to and there is even tv's on the market that have a preset THX mode on the picture settings, in your case you will have to set it upto THX standards yourself, what you have to do is get a pair of THX glasses, you can aquire these on ebay and then you will need a film which contains the "THX Optimizer" test patterns, there is only dvd movies that contain this, not Blu Ray disc's, you can get the THX Optimizer on dvd movies such as the Indiana Jones Trilogy or even Star Wars to name a few, the THX Optimizer runs you through some test patterns and goes through getting the best brightness, colours etc. This is what most people do and also What Hi-Fi.
Regards> M