Nice setup, a lot more professional than what I did. Good lighting is definitely the key for a good setup. I need to work on that and get a pair of lights (as I've mentioned above). But I gotta say those light tents do ake good use of the light they get, with them surrounding the object you photograph.
The essential and most important thing on the digital side is to shoot RAW images - they capture a lot more information. Shooting jpgs with a DSLR is a waste. RAW images allow incredible post-production. I use Photoshop, because I'm familiar with it and it's a superb all-around image editing tool. But there are other softwares designated especially for RAW post-production - like Lightroom, also from Adobe.
RAW post-production allows you to rather easily adjust sliders for pretty much everything: temperature, white balance, exposure, contrast, black, saturation, vibrance, ... all you need.
But if you're messing with photos on your computer you should make sure your screen doesn't suck or was at least calibrated properly. Most screens lack of color range and display colors way to cold. Maybe some of you have had some photos printed professionally and noticed how they looked pretty different from what you've seen on the screen.
I actually use an LCD TV as the monitor for my desktop pc, which I have to admit is not the right tool at all. But luckily I got it calibrated properly so it's close enough. After all I'm in no need to fulfill professional standards.