How does the BeoLab5 room correction work?

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Sound - Bang & Olufsen

The BeoLab5 loudspeaker claims to have a feature that equalizes the bass to correct for room interaction. From The Audio Critic:

"The Adaptive Bass Control works as follows. You press the center of the top circular disk on the speaker. A tiny microphone snakes out from underneath the subwoofer. A sequence of tone bursts begins. When it’s over, the microphone changes its position by a short distance. A second sequence of tone bursts follows. When it’s over, the microphone retracts. (Showmanship reinforcing technology!) From the two readings, the onboard computer calculates the low-frequency equalization required for flat room response at that particular location and applies the calculated curve. Flashing red and green pilot lights monitor the entire sequence. Then you repeat the same process with the other speaker. Thus, no matter where the speakers are located, you can have totally optimized in-room bass response. No additional instrumentation needed. The difference in low-frequency smoothness before and after the procedure has to be heard to be believed. Most rooms are terrible bass messer-uppers. "

Does anyone know how exactly they accomplish the room correction? The Bang and Olufsen website talks about 3 preset bass correction curves corresponding to the distance of the speaker to a wall or corner. Do they simply pick the best preset curve or is there more to this? Has anyone heard the BeoLab5 and what is your impression of it?
 
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