WRONG ALTIMETER SETTING. RPTR CAPT DIDN'T CHK SETTING AGAINST FIELD ELEVATION PRIOR TO DEP. LEVELED 700 FT HIGH FROM ASSIGNED ALT; ATC INTERVENED; PROVIDED CORRECT SETTING AND FLC RETURNED TO ASSIGNED.

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WX AT DEP ARPT (OWD) SEVERE CLR VFR AT DUSK; GOT ATIS. ALTIMETER HAD BEEN VERY LOW PREVIOUS DAY (29.82 I BELIEVE) AND HAD GONE EXTREMELY HIGH NEXT. ATIS RPTED ALT SETTING AND I 'CRANKED IT' WAY UP. I APPARENTLY SET 30.37 INSTEAD OF ACTUAL 30.87! I MISTOOK THE .37 FOR .87; BUT DIDN'T CATCH IT BECAUSE I HADN'T CHKED THE ALTIMETER'S ALT READOUT AGAINST FIELD ELEVATION! A SIMPLE GLANCE WOULD HAVE CAUGHT ERROR; BUT BEING 'SEVERE CLR' AND LATE SUNDAY NIGHT TOO; I SKIPPED A LOT OF OUR PREDEP IFR CHKLIST; WHICH DEMANDS SUCH A SIMPLE XCHK. UPON LEVELING AT '14000 FT' ATC INFORMED ME OF ALT SETTING AND INDICATED HE SHOWED US AT '14700 FT.' I DIALED IN CORRECT ALT AND ATC WAS (NEARLY) RIGHT; AND I IMMEDIATELY DSNDED. MORAL: I'LL ALWAYS USE ALL CHKLISTS; THEY TAKE 30 SECONDS TO A MIN TOPS. WHAT'S THE RUSH? I'M NOT SO 'PROFESSIONAL' THAT EVERY CORRECT ACTION JUST EFFORTLESSLY EXUDES FROM MY PORES! I'VE HAD GOOD TRAINING; THAT'S NOT MY EXCUSE. IT KIND OF SCARES ME HOW COMPLACENCY CAN SNEAK IN UNSEEN UNTIL SOMETHING HAPPENS. THIS WAS; THANKFULLY; A MINOR INCIDENT. I CAN THOROUGHLY UNDERSTAND HOW A MINOR OVERSIGHT COULD LEAD TO A MUCH WORSE SCENARIO.