I'd def recommend the hardware device of the X-rite i1 Display 2, very good device, and can be paired with all the leading software packages. even the free one which comes with it brings excellent calibration results. see here for some reviews of some of the main ones:
I have a huey pro. I wanted to get the most out of my monitor, but i didn't want to be spending 200 odd on one of the top end calibrators. So from the reviews on tftcentral i eventually decided on the huey pro as a good intermediate. Very impressed with it, does a great job, colours look just right and brings the best out of a decent monitor for a reasonably small outlay. So i'd happily recommend that if you are looking more for something around that price mark.
I've been considering building it myself since the materials for it are reasonably cheap... One stumbling point with it however, I'm not sure if the device its self needs calibrated in which case you're back at square one.
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