I downloaded the program from their website. (FREE) The program gives a lot of good guidance and the website has a lot of reading material. Basically you connect your mike or SPL meter to the computer line in and the processor to the computer line out. The computer and REW generate a test signal through your processor and your speakers. You use the REW and the mike to do some sweeps in one or multiple positions. Each sweep generates curves which allow you to analyze the result and adjust the PEQ on your 976 to make the response of your room as flat as possible. You can use REW to get all the sweeps and curves for your room and make adjustments as needed. This is the part where knowing what you are looking at and how your adjustments may affect other sweeps is similar to having a turntable.
As far as equipment needed the program allows the use of multiple microphones and REW has calibration files for many available. It also will allow use of the good old Radio Shack SPL meter. You will need a computer that has the line in and line out and a sound card. You don't need an expensive sound card because REW can be setup in a loop back fashion to eliminate the effects of the sound card altogether. If you already have a laptop and a RS meter with some appropriate length cables you could try the system out and find out how your current room correction is doing it's job.
What we don't know right now is how the 976 PEQ will be interfaced with REW. It is likely that it will be fully adjustable manually based on the REW curves but....in an ideal world you could adjust the PEQ right from your laptop. We are only going to get so much at less than $1000 so I would expect manual.
Model 990/7500/Magnepan 1.6 QRs/Technics SL1200 MK2/Aperion S-12 Subwoofer/OWA3/Sony NS75H DVD
Large Advent Loudspeakers/Panasonic Viera 42 inch/Onkyo HT-RC260/Sony BDP S590
Home Theater System
Onkyo PR-SC886/7125/Klipsch RF-82 L/R,RC-62 center, RB-35 SR/SL, BENQ HT1075, Outlaw LFM1-EX/OPPO BDP-83/Directv
Blue Jeans and Monoprice interconnects
APC H15 Power Conditioners