Setting up EQ manually

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Recently I came across a setup method for room correction using positive feedback as follows and wonder if anyone can give me some feedback

1. Lower each individual frequency by 12dB on the EQ and increase the total gain by 3 dB
2. connect the microphone to the mic preamp and than to the EQ
3. Increase the vol of the preamp until positive feedback
4. reduce the total gain on the EQ from 3 bB to O
5. So far we have made the preamp just about to have positive feedback
6. Now, starting from the high frequency, slowing increase the gain from -12dB to 0 dB and above until positive feedback
7. Once positive feedback is heard, the gain is stop and lower by 3dB
8. Setup the same way for all frequency and for each channel separatly.

Does this method work?
 
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