I got back from a trip last night and hooked the NeptuneEQ up. It truly does take about 5 minutes to configure the unit. Getting all the new cables that I had purchased unwrapped and hooking it to my processor was the longest part of the setup. I did not have long to listen to the unit before leaving town for the weekend.
After running the auto setup and tweaking the tone controls I called my wife to take a listen. When I asked her if she thought my system sounded any better her comment was "this is a HUGE improvement". I was smiling, as the results in my system/room are anything but subtle. Every aspect of the sound is better. The bass is more palpable, soundstage is coherent, and dialogue is more revealing. Fine details that I had not appreciated in familiar movies were present.
Unfortunately, I discovered that my sound analyzer is malfunctioning and I could not collect some before/after measurements. More to come....