You can really use this device: http://www.xrite.com/colormunki-display with the "Dell UltraSharp Color Calibration Solution software" to calibrate the monitor?
Than this is a novum and good to know.
Till now no other software except X-Rites iProfiler and argyll with his custom driver and hacked access code can use the Colormunki Display.
Don't know if ColorMunki works with the software you refer to, but the puck comes with its own software made by X-Rite, which can be used to calibrate an UltraSharp monitor, and pretty much any other monitor out there.
That sounds like a hack. The display profile normally takes care of that part, by specifying the position of each primary. But since we're talking about projectors a full display profile may be overshooting the target.
I haven't used HCFR with a monitor because it is much faster to use the native software that came with Spyder, and just came with my new ColorMunki. Projector calibration is different, since you can't hook up a Playstation (Bluray watching) to a computer to do all the heavy lifting. There are ways to do it semi-automatically, but I don't mind getting my hands dirty, as it means I actually understand better what's happening.
That's not what I heard, I believe it's locked to the i1 Display Pro and the Munki won't work. Of course you can use the Munki software - but the whole point of the Dell software is that it's calibrating at hardware level, accessing the high-bit monitor LUT directly. The Munki software can only do a low-bit video card calibration.
Does that mean it won't matter which puck you're using if you run your 10-bit monitor in 8-bit mode? That's what I'd be running the UP2414Q in. But if there's a real benefit from using i1Display as opposed to ColorMunki (other than speed), I'd be inclined to exhange the ColorMunki to i1Display.
Right off the bat they write:Even though I mention some Epson projectors specifically, this method can be applied just as effectively to all projectors.
I'd expect the technology to make a huge difference (well when comparing DLP's which suck to LCD's). The Color Light Output of the two technologies (and the saturation?) should be huge.
http://www.colorlightoutput.com/what-is-color-light-output.php
But interesting, I've never heard of this Saturation 'control' when calibrating.
My Epson is LCD, not sure if Epson makes DLP projectors. And saying DLPs suck compared to LCDs is opening a whole can of worms I'm not going to touch on

If you want to tinker with it, you can check out
HCFR (free, as in beer) with AVS HD calibration disk (link in linked post) and using the guide I linked to in my earlier post. It would be great to have feedback from a seasoned pro as yourself on saturation calibration on the thread above!
Other third-party calibration softwares probably can do saturation calibration, and some other calibration DVDs might have the proper calibration targets.
Thanks for the Color Light Output link, that'll come handy next time I'm upgrading my projector!