Yeah, and it only costs like $30. You can do irreparable damage to the neck by adjusting it yourself. If it's still bowed, then you're alright. If it's bent the other way (I forget the terminology), then you might have a hard time getting it bowed again. The adjustable truss rod is more capable of bending than the neck. We're talking about steel against wood here, which one's going to give.

Guitar necks need to be a little bit bowed, or you will never get a good sound out of them. The strings will buzz at the lower frets. Plus, with any electric you can also adjust the bridge.

The people that do this professionally have many more tools than you do. They don't charge very much to do it. Stick with the professionals.