Good Used Speakers ($8K-10K) For A Little Listening Room

Like others have said, get your setup dialed-in to play the room best, then do room treatment on all first reflection points, then bass traps in the corners if needed. Spend your money where it gives the most benefit.

Tomcarr, by the time you are finished with room treatment and bass traps you are going to blow a lot of funds.

The biggest issue with a small room is not first order reflections but bass boom. as the room being a perfect square will cause serious loading in the bass the OP may have furniture in the room which removes reflections naturally or perhpas not. 

If the room has slap echo that will have to addressed, belive it or not large throw pillows pilled up can work wonders with this for very low cost.

Not saying that acoustic treaments are not warranted but bass traps take up a lot of space and are expensive, hence our idea of using active room correction to remove the peaks in the bass without having to resort to taking up space with passive bass traps.

Active room correction is the answer. 

Dave and Troy
Audio Doctor NJ

I am a great fan of active room correction. However, the problem is that it does not really work well in small rooms: the correction frequencies are just too high, and as a result the perfect listening position becomes very small. Room eq is great in a large room, but in a small one there is only one realistic option: avoid low frequencies. There is no way you can avoid physics.
If you ever decide room eq is your thing, have a look athe DPSpeaker Antimode X4. It is probably the most sophisticated room eq pre amp on the market today.

Audiotroy, my dedicated room is small and square (14x14) with some alcoves that do allow for less bass boom. My main problem was not bass, but 1st order reflections. I did not blow a lot of funds to treat with panels. Less than $1000 spent to cover all 1st reflection points and no bass traps needed. Best money I've ever spent in audio.

Room correction helps but it will not solve the problem.  It won't stop the room from having resonant frequencies.  If you eq the peaks flat it will sound weird because you have to make huge cuts.  Bass traps will actually reduce the peaks/valleys of the room.  Room correction can't do that.