... I'm wondering if my computer monitor is at all limiting my digital photography. ...
The short answer is, probably yes.
All monitors are not created equal. Some simply are better than others for critical photographic applications.
My MacBook Pro laptop, for example, has a very nice monitor that allows me to get digital images pretty close to where they need to be after a shoot. It is great for mobility. But a good desktop monitor is definitely superior, as I learn when I switch to a well-maintained machine at the newspaper’s photo department office.
There is a difference between what you will see in the same image viewed on a matte screen and a glossy screen.
I calibrate my laptop (matte screen) using the built-in Mac operating system software, and that works for my purposes. I suspect if you have built-in calibration software you can keep your own monitor in usable calibration. The procedures are not especially arcane – just follow the prompts.
Recalibration needs be done fairly often to keep things up to snuff. (You decide what that means – I tweak weekly or monthly for my purposes, but some guys I know recalibrate daily.)
One thing I was surprised to learn when looking into this issue a while ago is that CRT monitors literally wear out after a while, in terms of their ability to render color and tonal gradation. The LCD types are more durable. Durability is measured in years – astonishingly few for CRTs.
You also might want to remember that lighting in the space where you use your computer to process photos makes a difference. I prefer relatively dim lighting, myself, but don’t always get my way on that.
Finally, don’t forget that algorithms used to process your image in the camera for viewing in the preview monitor are optimized for that use and may differ considerably from those used in your computer system. This can change the way the image looks at preview and when you edit on your computer.
Certain editing software packages also change (or give different versions of) the appearance of images as they hit my computer screen. They are perhaps better used for evaluating image content than for evaluating color or tonal quality.
I have seen some very good work produced using horribly out-of-calibration monitors in poorly lit workrooms – by people who have a good sense for correlating what they see on the screen to what they will see in the final output. But this is by far the exception rather than the norm.
Poorly calibrated, worn out monitors in poorly lit workplaces make the game a crapshoot for the huge majority of us.
For most of our uses I think what we are looking for first is to produce an image that looks “right” to us. A properly calibrated monitor helps ensure that we can communicate that vision to the world. Tweaking to match various outputs is a final step that can be automated to a degree by good color profiling for different outputs.
(And now I am in way over my head.)
G.