[Firdaus Aziz] "For monitor, can I just use a normal/consumer LCD TV for the moment and invest in a professional monitor later on?"
It doesn't matter... it still needs to be calibrated. You will have much better luck calibrating a computer monitor than a consumer TV. Consumer TV's will usually alter the image to make it "look better" which is *exactly* what you don't want.
[Firdaus Aziz] "And will that Spyder 3 Pro calibrate a normal/consumer LCD TV as well?"
It depends on how you plan to connect it to your PC. If you are using a DVI connection then yes. If you are using HDMI out, probably not. I would check with DataColor support first.
~jr
http://www.johnrofrano.com
http://www.vasst.com