Thank you guys appreciate the quick turnaround.
I am compairing it with my Panasonic all in one system which I am replacing and bass was pretty good on it. Also I have tried watching TV with prologic enagaged and ran some DVD's with dolby 5.1 audio. I don't have HD source currently so cannot test with HD audio.
Yes I have followed Audessey setup guide line by line several times since couple of days ago.
Bass is extremely low when DynEQ is not engaged but when I engage the DynEq it gets little better but still very low. The only thing I think which I couldn't go around was the sub's location, I have it in the corner but about 6inches away from both(back and sidewall) walls, which again in my opinion shouldn't matter that much in having close to no bass at aound 20db of volume level. Do I have to turn the volume up to reference level to really hear the bass??
My room is 15x20 and I have all 5 speakers monted on walls. Sub is sitting beside my TV stand. Hope this helps little in figuring out what else can I try.