Yes, that works great.
BUT... be sure to backup the working /etc/X11/XF86Config file and know how to restore it without a GUI.
Because, if you add:
Gamma .9
X may not start. The proper entry would be:
Gamma 0.9
It's all in the man page for XF86Config. But, it's still no fun if you miss the pertinent paragraphs. <s>
"The values should be in the range 0.1 to 10.0, and the default is 1.0. Not all drivers are capable of using this information."
I learned this the hard way... but it does work nicely once you get it:
Gamma 0.8 0.85 0.88
cleans up the display color and gamma on my older monitor very well.
ck