J River offers all that stuff for the legacy codecs (PEQ, Bass management, calibration) and Dirac for PC is far more powerful on a PC than a receiver. Would there be a learning curve? Sure, but there's been a leaning curve for this tech, and somehow it's become mass market anyway. PC as receiver would be no exception--particularly when people realized how much cheaper it would be.
Color me skeptical.
I in fact use a Windows laptop + foobar as my 'music server' -- connected to an AVR via HDMI for all prepro/amp functions.
Just the learning curve to do *that* right -- including getting all stereo and surround formats working correctly -- I would predict is daunting to Joe Audio Consumer. Putting all the PEW, BM, calibration onto the computer would steepen the curve still more, compared to the plug'n'play/setup hand-holding routines that AVRs offer.