It's not the best, just the best in the price class with no serious competition since the demise of the Trinnov-equipped Sherwood R-972. I'd like that to change. I hope Emotiva gives us a useful implementation of Dirac if they ever release their pre-pro, and it would be nice if Pioneer and Yamaha develop their systems into relevance as well. (There are some rumblings that Pioneer may get serious next year.) Audyssey could also improve, and join the first rank of RC systems. Also, perhaps someone could try again with Trinnov in a reasonably priced piece of kit.
But back to ARC, it handles the upper bass properly, and can be set to not touch the signal above the modal region.
Read Dr. Rich's review on SECRETS, posted earlier. Dr. Rich is, of course, a Ph.D. EE and a full Professor.
Audyssey's comparative flaws relegating it (in standard form) to the second tier of RC systems are by now well-known: neutering the upper bass by EQ'ing out room gain, and the crappy speakers compensation notch.
Audyssey-based platforms really need to include the Pro license in their higher-end lines. Audyssey does a good job of fitting measurements to the target curve, so it's just a matter of fixing the curve.
It's worth noting that ARC came out of the ATHENA project at the NRC (Canada), just like Harman's JBL Synthesis system. ATHENA was, of course, started under a Ph.D., Dr. Floyd Toole.
It's also worth noting that Audyssey MultEQ XT (on Audyssey's standalone box) was found worse than no EQ in the Harman blind tests, even on crappy speakers (B&W N802?), conducted under the direction of another Ph.D., Dr. Sean Olive. And XT32 wouldn't have done better, because it doesn't fix the above two problems. It just makes the fit to the target curve more accurate.
It's obvious that the least-preferred curve is from Audyssey, based on the flat bass and midrange notch. (Incidentally, in that test ARC basically tied with "no EQ," but the current ARC target curve looks more like that of the 3d-ranked (and better than "nothing") system in Dr. Olive's 2009 test, which was RoomPerfect.
You mean, "some people prefer to use the technically correct term, rather than a meaningless marketing sound-bite."
If you want to keep liking your Denon AVR-as-prepro, don't.
But there should be an MRX-310 (and 710; no 510 has been mentioned) out soon. Anthem's been tight-lipped about what changes may be a part of it. Hopefully, just like before, there's basically no reason to buy the more expensive one over the cheaper one.