I like the idea of a setting that is actually correct for watching the TV, instead of the usual poorly adjusted preset settings that most TVs have. "THX Movie Mode" is a good idea, but I suspect that like other THX certified things, this, too, will come with too high of a price.
Frankly, I think the government should require, of all HDTVs, that one of the preset settings to be as close as possible to "correct" for the format designated by the government. There are standards, after all; why not simply require a preset that fits them?