The addition of a phono stage at this level is nothing new for Onkyo or many other manufacturers though and not at all sure why they appear to be making such a big noise about it? Maybe to try cash in on the recent record day publicity or maybe just pure desperation to try suggest that they are doing something other manufacturers don't do?
The EQ system isn't developed by Onkyo, but was developed for them by a third party concern. I'd guess this has more to do with cost cutting on Onkyo's part as opposed to the new system actually offering anything better than Audyssey had to offer. They had to buy the Audyssey licensing from Audyssey in order to be able to implement it on their receivers. After saying this, they still insist on making those that buy Onkyo receivers pay for next to useless THX licensing.
It has been suggest elsewhere that Onkyo are using this system for the EQing:
http://www.cirrus.com/en/pubs/proBulletin/IRC_PB.pdf
The thing about bypassing the front speakers is not unique to Onkyo. Many manufacturers have similar options that EQ the other speakers so that they match the EQ of the main stereo pair and the stereo pair is left unEQ'd. For example Yamaha receiver's and Yamaha's YPAO allow for this.