I ran REW to measure the difference in the responses between the Audessey settings just to find out exactly what it does to the signal. I have an Onkyo 809 that has MultEQ XT. The signals were input to my mains and sub and crossed over at 80hz. There are 2 graphs: 10 - 200hz, and 200 - 20,000hz. The red line is no processing, the blue line is Audessey music, the green line is Audessey movie, and the gold line is Audessey movie with Dynamic EQ on. 1/12th smoothing was applied for readability.
I don't find I need to have the Dynamic EQ or the Dynamic Volume on, and usually toggle between the music and movie settings depending on the corresponding input. I have a free-standing home and live by myself, if either of those two things were different I would probably find the Dynamic EQ and the Dynamic Volume settings very useful.