Colorimeters only take readings on 3 color channels, red, green, and blue. They can only calibrate monitors, and then only monitors whose RGB primaries match their internal color filters. Their only virtue is their low price. A spectrophotometer like the i1 takes readings at 10-nanometer intervals, so it can profile any kind of monitor, and printers and other devices as well, with greater accuracy than a colorimeter. But it costs a lot more.