There are many devices that attempt this with varying degrees of success. These include the usual suspects such as Audyssey, TacT, ARC and a slew of PEQs when coupled with RoomEQ Wizard. The one I like best is the Meridian MRC which measures the broadband decay above the Schroder frequency (~200-300Hz in most domestic rooms) and then calculates filters for band below that frequency. What is nice is the ability to adjust the decay target, to modify/delete/create filters and the ability to graph the results.
You are right about concert halls since there are effects there which are different from those in small rooms (short latency reflections, distance effects on frequency, etc.). Nonetheless, there is a definable RT-60 across most of the audible frequencies well into the bass in concert halls but small listening rooms have their low frequencies dominated by room modes below the Schroder frequency.
In addition, if you want to reproduce the concert hall acoustics when you play a recording of them, you do not want to superimpose the acoustical characteristics of the small room on them.
BTW, there's a great new book on all this from Floyd Toole.
Kal