Excellent post Kwessa. Only thing I would add is the use of the view up key on your numeric keypad i.e. the number 8 key.
When you have finished calibrating and would like to ensure that you are steering in the right direction use this key to change your view to look ahead. Then use your joystick to the make minor adjustments to the target (of course use the zoom function (Z Key) and the [ , ] keys to bring the target into view )
Only thing to worry about is try not to make too many corrections. This limits the possibility of messing up your calibration.