It can't be compared with a classic FTT analyzer... It's a different approach.
This plug-in was not conceived to correct room acoustics but to calibrate your monitoring system.
Use it if you want to hear how your monitors (professional systems included) really sound!!! I used it for my Genelec and Dynaudio monitors...
Install the ARC software in your computer to discover what a linear sound reproduction is, which by the way isn't very pleasant in the beginning but you'll get used to it. It won't take you long to realize that some monitor manufacturers don't say the truth about their products. You'll also notice that a subwoofer is indispensable with all near-field monitor speakers because they are not reliable below 50 Hz. Once you calibrated your system you'll notice that the subwoofer output level has decreased, which is normal because low-frequency room modes probably boost the low-end.
I've been mixing using the ARC system for six months with a pair of ADAMs and a subwoofer. The subwoofer is placed in front of me (just above the computer monitor) at the same distance as the speakers (approx. 0.6'). If your mix is good, it will sound right with every speaker system. I test my mixes with L Audio and Adamson PA systems, a Marantz hi-fi system and Logitech multimedia speakers.
Tip: When you do the test place the microphone capsule horizontally in the spot where you usually work and exactly at the same height as your ears. Don't forget to mute the ARC plug-in when you bounce your mix. That's it! The M.I.T professors who conceived this system know a lot about acoustics!