Firstly, Nice job Cameron, the footage looks really great, good composition, subtle color correction
about the above quote, What you're describing is extremely basic CC work, technically you should have your scenes temperature adjusted while shooting and try to match as closely as possible in cam.
After that, you do want to do a little tweaking for match, but mainly colorist work is what brings your film to life. People think it's just turning the contrast knob, but it's really way more complex (and powerful) a tool than that. I've often spent 3 hours grading a 15 second scene. My color control panel looks like an F-16 cockpit.
Here's a couple of links showing what you can do with your footage via serious colorist work, from the world leader in task specific colorist software. (amazing stuff) Once you really understand what colorist work is capable of, it will help you a great deal in the future, even if you don't use this particular software.
This clip explains it well. Notice first of all that this released film started off looking very average and weak, and then became incredible during the colorist process.
https://www.youtube.com/watch?v=NSPOxFTUKBs
In This video you will see an actual color console, and an isolated example of removing the blown out look from a bright scene. (this one gets a little boring and drawn out, sorry) Console is right at the beginning.
http://vimeo.com/24636714
Then here's one showing some final results you can get.
http://vimeo.com/24891847
And lastly, an example of workflow, where colorist work can be used to isolate and fix only human complexions, allowing you to take years off of the age of your actors at will. (really impressive)
http://vimeo.com/20030498
For a cheap way to get very good results, just work with a plugin called "color finesse 3" that's included with After effects CS5. Learn about curves, and for quick grades use the HSL master RGB gain slider in conjunction with the two contrast sliders. That will get you better results.