Van, on the auto-equalization(not just level balancing), no it can't be done by ear, and yes, it definitely is a coming feature that will become more common. Separate equalizers can be bought at significant expense and with considerably more effort to use(see willscary post in equalization thread), but also can likely result in even better equalization than with the present built-ins available. So although they're far from perfect, my view is that, other features being about equal, auto-equalization should be the deal-clincher.
On 7.1, etc., there's no 7.1 format(6 is the max now), but some processors(e.g. DPLIIx, Logic7)can extract and process information from 2 and 5 channel recordings to give a somewhat better total surround effect with the back speakers, especially if their room is very large.
