I'm no expert on color space, but it once was explained to me that if your camera's exposure is properly set, raw DV footage should generally be compliant with either NTSC or PAL standards. Usually, this shouldn't require any tweaking to meet broadcast spec. There is an oft-discussed issue about DV cameras having a 0 IRE level for black vs. the 7.5 IRE for U.S. NTSC spec, but there seems to be a widely ranging opinion about how serious this is. Best advice I've heard is to shoot a cardboard NTSC color bar WITH THE CAMERA, under the same lighting conditions as your subject. Use this as a slate and let the engineers at the broadcasters deal with any corrections needed.

If you're using media that did not originate on NTSC or PAL video (such as imported stills, NLE-generated composites, moving or still film) then you have to be much more careful about spec. I've used the Vegas Broadcast Colors filter on such media with pretty good results, but for stills, I usually adjust the levels to between 16 and 235 in Photoshop.

I also understand that a lot of the concern about broadcast spec is irrelevant if the product will be delivered on DVD. It seems DVD players have built-in limiters that bring any signal into NTSC or PAL spec.

That's what I know. I'm sure there are others here who can elaborate further.