The Collaborative International Dictionary of English v.0.48:

Calibrate \Cal"i*brate\, v. i.
   To ascertain the caliber of, as of a thermometer tube; also,
   more generally, to determine or rectify the graduation of, as
   of the various standards or graduated instruments.
   [1913 Webster]

WordNet (r) 3.0 (2006):

calibrate
    v 1: make fine adjustments or divide into marked intervals for
         optimal measuring; "calibrate an instrument"; "graduate a
         cylinder" [syn: calibrate, graduate, fine-tune]
    2: mark (the scale of a measuring instrument) so that it can be
       read in the desired units; "he calibrated the thermometer for
       the Celsius scale"
    3: measure the caliber of; "calibrate a gun"

Moby Thesaurus II by Grady Ward, 1.0:

238 Moby Thesaurus words for "calibrate":
   IQ, ability, adjust, agenda, amplitude, appraise, appreciate,
   apprehension, area, assay, assess, batting order, bigness, bill,
   bill of fare, blueprint, body, book, bore, breadth, budget, bulk,
   bump, calculate, calendar, caliber, calibrated, caliper,
   capability, capacity, card, carte du jour, carve, catalog, chalk,
   chalk up, check a parameter, check in, chronicle, chronologize,
   comprehension, compute, conception, coverage, cut, decrease,
   deductive power, depth, dial, diameter, differentiate, dimension,
   dimensions, divide, docket, dower, dowry, endowment, engrave,
   enroll, enscroll, enter, enumerate, equipment, esemplastic power,
   estimate, evaluate, expanse, expansion, extension, extent, faculty,
   fathom, file, fill out, flair, forte, gauge, genius, gift, girth,
   gradational, grade, gradual, graduate, graduated, grave, greatness,
   height, hierarchic, ideation, impanel, incise, increase, index,
   inscribe, insert, instinct, integrative power, intellect,
   intellectual grasp, intellectual power, intellectualism,
   intellectuality, intelligence, intelligence quotient, intercalate,
   inventory, itemize, jot down, keep score, knowledge, largeness,
   length, line up, lineup, list, list of agenda, log, long suit,
   magnitude, make a memorandum, make a note, make an entry, make out,
   makings, mark down, mass, matriculate, measure, measurement,
   mensurate, mental age, mental capacity, mental grasp, mental ratio,
   mentality, menu, mete, meter, metier, minute, mother wit,
   native wit, natural endowment, natural gift, note, note down, pace,
   parts, pigeonhole, place upon record, playbill, plumb, poll, post,
   post up, potential, power, power of mind, powers, prize, probe,
   program, program of operation, programma, progressive, proportion,
   proportions, prospectus, protocol, put down, put in writing,
   put on paper, put on tape, qualification, quantify, quantize,
   radius, range, rate, rationality, reach, reasoning power, record,
   reduce to writing, register, regular, roster, sanity, scalar,
   scale, schedule, scope, scope of mind, score, semidiameter, sense,
   set down, shade off, size, size up, slate, sound, span, speciality,
   spread, standardize, step, strong flair, strong point, survey,
   tabulate, take a reading, take down, talent, talents, tally, tape,
   tape-record, the goods, the stuff, thinking power, triangulate,
   understanding, valuate, value, videotape, volume, weigh,
   what it takes, width, wit, write, write down, write in, write out,
   write up