In my experience, room correction with DSP (MiniDSP+DiracLive) made a huge difference. In terms of sound, it went from fatiguing to blissful. The bass became more coherent, the mids and highs less muddy, more clear. Instruments and voices became separated, imaging dramatically improved. DSP is not simply about correcting issues with frequency response. As previously mentioned, time domain problems can also be corrected, which I assume is why the imaging has improved so much.
Below is my frequency response, measured with REW. Yellow is with DiracLive turned on.
And here are the impulse responses as measured with REW, before and after correction with DIracLive.
My perception is that the magic comes with both the frequency and phase corrections that come with DiracLive implementation.
Before MiniDSP, my room was treated with some absorption panels, mostly to reduce some of the reflective wall surfaces to improve reverb. The room includes a 77" TV, couch, furniture, large and dense wool carpet, and sits in the basement where two of my walls are concrete covered in sheetrock and insulation. Speakers ('bookshelf') are 5 feet from the front wall, about 3 feet from the side wall (right, concrete, a little more open on the left side).