re timing as in adjusting delay for each channel so that the sound arrives to the listener at the same exact time from all channels?
Yes, you measure in sic positions, and the system is supposed to time the speakers to give the best overall spatial effect for all listeners.
In that I would say it achieved its goal. I have to say, I don't think my front row has suffered and the rear row is certainly improved, no doubt about it.
The delays were changed significantly from measured distances.
So at least in my system the only function Audyssey is providing is setting the delays, and I had to override the LFE output delay, for reasons mentioned in my review. I have canceled the frequency response corrections, as they were not significant in the bass and mid band, and harmful in the top end. Audyssey did not change my speaker set up or levels, which in itself I find remarkable.
When I made an error in the response of the rear surrounds on purpose it caught it right away and made an appropriate correction, pretty much to the db.