FWIW, the SR5005 only has the basic Audyssey MultEq, not XT.
Yep. If you can live with Chinese electronics, you'd be better off stepping up to the Marantz 6006 or it's twin, the Denon 3312CI which include Audyssey MultEQ XT. I remain unconvinced that there's any audible difference in stepping even further up to XT32, but it does increase the sampling resolution quite a bit. I'll be really intrigued to hear the Emotiva implementation of Tact's room correction in their new processor. I always found Tact's correction to be EXTREMELY good while being very unobtrusive. If Emotiva doesn't trip on their weenies like they did with their last processor effort, that would be one hell of a deal in the sub-$1500 range if they get the rest of it right.
Differences between various Audyssey implementations:
http://www.audyssey.com/audio-technology/multeqBest,