Samsung SyncMaster 245BW Looks Horrible in Lion

I finally upgraded to Lion and while I like the features, my display looks quite a bit different and frankly, quite a bit worse since the upgrade. I have an early 2008 Mac Pro. I discovered that Lion changed some things in my System Preferences Display settings and so I had to go through the manual calibration - but the results are still underwhelming. Fonts look poor (and pixelated - such as in the url bar in Safari), colors are somewhat washed out, etc. I have checked that Font smoothing is turned on (but when I turn if off/on, it makes no difference - is it only on restart that smoothing changes state?).

I also made the fateful choice to download and try software from Samsung called MagicTune but that was a huge mistake as it took away my manual adjustment capability with the 245BW display. It installed but didn't run and I am not sure if I got all the files uninstalled as the uninstaller did not work with Lion. I trashed the app package then restarted but until I power cycled the 245BW display I could not manually adjust. I have a NVIDIA GeForce GT 120 512 MB video card installed (upgrade from original).

Maybe it's time to upgrade to a new monitor. My wife has a new Syncmaster SA300 on her Mac Mini and it looks pretty good. The 245BW was considered a fairly good monitor a few years ago when I got it and while it's never been as good as an iMac display (IMHO) I was happy with it until the upgrade to Lion.

Any tips from the gurus on how to make the most out the 245BW with my Mac Pro / Lion?