Room correction is a valuable tool if its done correctly and you understand what its intended to do.
It doesn't fix problems within the room but it can flatten the frequency response for potentially a more balanced sound. I'd always advocate for physical treatments but if you've got serious room problems you'll need to turn to both.
Also the methods EQ methods talked about here are quite rudimentary. I use a much more advanced form of correction utilising FIR filters and pschoacoustic profiling - what we don't hear isn't despite measurements showing a problem, is ignored and not corrected for.
Its a complex bit of software that creates the filters I use but I've been writing a small guide for users but it will also help immensely to understand just how effective and powerful EQ can be for the casual onlooker:
Click to download the 6Mb PDF:
Acourate Manual.pdf