Auto-Level is often way too harsh in PS. It is an interesting way to see details in a very under-exposed shot though.
Typically, Image, Levels, Options, Shadow and Highlight at 0.5 each (my defaults) and hit ok, as a good starting point.
aren't they the same thing? only difference is that one is done by computer calculations, the other done by yourself. Colour-balance is affected because Auto-level tweaks each colour individually. You can do that too in Levels... What's your question again?
side track a little, I find the Auto-Colour to be very inaccurate. It's almost always wrong - always too cool (bluish tint). Auto contrast and Auto Level works for me usually (I'm lazy)
