In my opinion, the reining champs are, Audyssey, MultEQ XT32 that comes with higher end AVRs. The next two, it's a toss-up between the miniDSP and Anti-Mode 8033S II. The miniDSP works independent and with REW, giving one personal control over the final product. Anti-Mode is a stand-alone EQ that fully automatic, plug, hit go, stand back and let the magic happen. I'm an auto, plug-n-play kinda guy.
Our system is setup using MultEQ XT and Anti-Mode 8033S II. I first gain match the subs with a sound meter, run Anti-Mode, EQ with XT and salt to taste using REW as my guide.
As to using the appliance you linked to, that comes across as more of a recording device (DSP) than a device used to EQ subwoofers so I'm clueless how to respond to your question regarding using the "Avid - M-Audio Recording Studio" as an EQ appliance.