You don't have to synch the monitor with LR but you have to calibrate it. Calibration is done with a spectrometer that measures the contrast, brightness, and colors of your monitor and builds a profile so that your monitor displays the colors correctly. The profile is saved as an icc-profile and will be used by LR automatically. It will also be automatically be used by other programs that are color managed.
Brand names that come to my mind are "Spyder" and "X-rite". Check the websites of sellers of quality and pro digital photo stuff.
Like WW says.
You can purchase one for less than $100, and if you want to have your prints match the colours that you see on your screen, you need one.
Hal, Andrew, Web Weaver -
Thanks very much for your quick replies and advice. I was away from my computer
since my initial post so haven't had a chance to follow your advice yet. But I plan tonight.
WW: right, calibration is the correct term :) will look for the ICC file.
Hal, sounds like a worthwhile investment. Thx.
Andrew thanks for the link!
Will let y'all know how it goes.