rueful wrote:Also I would be happy if someone could suggest a budget monitor option, something that can get me started at least.
Like Walter and Uli said, you can get quite far on the learning curve without a proper calibrated setup. You'll in the process probably end up learning why a properly calibrated setup is important, and as you learn you'll raise your standards... you'll know when you reach the point where you need a calibrated monitor.
In the interim, a reasonably good TV will work, and if you want an inexpensive way to get a full-screen preview of what you're working with look at a reasonable HD tv monitor and a BMD UltraStudio mini monitor or a Decklink card or similar, depending on what sort of machine you're using.
However... you can also build up your system gradually by starting with a TV connected over HDMI, adding a probe (preferably one that SpecraCal and Light Illusion support), and then later adding the LUTbox.
You'll have to get there eventually to do production work, but you don't have to rush into it. You can grow your system to a professional state gradually as you develop your skills and better understand what you need and why.