It varies with the brand of receiver
I have played with more than one brand of receiver that provides this sort of capability. I did not get satisfactory results with any of them, but the results were far worse with some than others. And the most popular brand of this capability is intolerable as far as I am concerned, due to the extreme emphasis on high frequencies. Nothing sound the least bit natural. And I experimented at length with mic placement, and it didn't matter. The mic itself is not an issue, in theory at least, and it should not be an issue in reality, owing to the fact that it is so easy for this systems to incorporate correction for the mic. No, the problem is elsewhere. The premise that room response should be flat is wrong. Yeah, I knows that sounds counter-intuitive, but not if you think it over. To make the room response flat, the on-axis response anywhere close to the speaker has to have exaggerated treble output, to compensate for the fact that all the reflections from the side walls and especially the rear do not have as much treble. This of course is due to the simple fact that the speaker is more directional at high frequency. If the room response is flat, the on-axis, anechoic response of the speaker will be many dB higher at high treble frequency in comparison to most of the audible spectrum. This is simply a consequence of the way that conventional speakers behave. For them to sound good, the reflections from the walls, floor and ceiling have to be attenuated in the treble. It probably does make sense to try and correct for the major peaks and dips that occur in the upper bass and in the midrange for most speakers, but the problem is that the most popular of these products goes too far and strives to achieve an overall tonal balance that just isn't the least bit natural. In plain truth, it sounds damned awful.