The kind of processing power required is the type in your PC or notebook, which you are not going to find in a receiver or dedicated equalizer anytime soon. Audessey has a PRO version that connects to a PC. It takes longer to run and requires some technical savvy but it is more accurate. In the meantime it has the inaccurate version which it liscences to to receiver manufacturers. Those versions are somewhat effective for HF correction but their effectiveness drops pretty quickly at the lower frequencies.
The most effective bass equalizer which does power off a notebook or PC is the Room Equalization Wizard which is also free software. It finds optimal settings for the Behringer equalizers.
One product I have been watching with some scepticism is a new product development by Audessey which attempts to correct time and frequency domain problems. Ringing can do just as much to hurt sound quality as uneven FR. Lingering notes at all frequencies caused by soundwaves continually resonating around the room can mask detail and articulation. In the bass region it contributes to boominess and less tight bass. The Audessey AS-EQ1 as its called is supposed to cure both FR and time problems but it is way behind schedule no doubt because of the even greater processing power requirement and the fact it can't be slickly packaged into a receiver.
