Room set up

You will probably need some type of bass absorber to tame the boom.. 

Check out DIY limp membrane absorbers
Or GIK Acoustics has tuned membrane bass absorbers..

I've just about finished my room acoustic treatments, boomy bass is gone, slap echo is gone.. the only reason I'd use DSP now would be if I was setting up surround sound.

BTW, you don't have to get THIS fancy to set up a 7.1 channel DVD/BluRay player.

Get a cheap calibrated mic like the Dayton imm-6 and use it with your phone or tablet and AudioTools to set the levels correctly.

http://amzn.to/2Ax4dFX

You will still need help with the room boom. Personally I use a 2 channel miniDSP, one for the center and one for the sub. That's it. The sub needs it by far the most. The center only because it is in a cabinet. However, I have sophisticated measuring tools in the OmniMic, which let's me set the DSP with precision.

Best,

E

@erik_squires that miniDSP Dirac live precessor seems incredible.. but man, $800. Oof. Have you had a chance to check any of their stuff out? 

Never you mind, you've already answered my question. 

It is called Audyssey. The difficult part of Audyssey is that there is no room for error and to make any mistakes. You need to work at mm precision.

Systems like Dirac are more easy to use, but they have a big limitation compared to Audyssey. When you use Audyssey the right way you will not loose low, mid and high frequency details compared to most other room correction systems.