No, not really. Almost any LCD monitor will go much much brighter than you need or want. In fact, a significant problem with many lower end LCDs is not being able to get them dim enough, not bright enough. For this reason, contrast ratio is a fairly meaningless spec when it comes to monitors used for critical color work.
You want high point... the luminance setting... to be such that your monitor, in your particular working environment, more or less matches the overall brightness of your prints (assuming a fully color managed, calibrated workflow). That's sort of a moving target, especially if your ambient lighting changes during the course of the day like mine does, and also because your prints look different when viewed under different light, so there's no 100% "correct" answer.
Black point, I dunno, my software just does the best it can with it — ideally black would be true black, 0,0,0, but that's not practically achievable.
Most people tend to set their LCDs too bright — even the often-recommended 120 cd/m² is probably only appropriate for typical bright office lighting, not the sort of lighting many of work in.
Try starting with 100 cd/m², profile and run some prints, look at them in whatever light they're most likely normally to viewed in, and see if they match your monitor reasonably well. If they seem dark (or, less likely, overly light) in comparison, adjust in 5 cd/m² increments accordingly.
p.s. I just recalibrated mine with the target settings I mentioned above. On finishing it reported a black level of .39 and an intensity level of 94.4, amounting to a contrast ratio (also reported) of 244:1.
Nill
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