I'll try to be brief since this thread isn't about the MS-8, but the 31-band graphic EQ on MS-8 isn't the "meat and potatoes" of what it does. It does so much more with the automatic equalization, and the graphic EQ it lets you alter is there to shape the overall sound to the curve you prefer to hear. It tries to EQ the whole system flat initially.
Even when you have 31 bands of graphic EQ for each channel it isn't enough resolution if your RTA equipment includes a laptop. However, "good enough" on a competitive type of level is far superior to what most people find acceptable in the car.
When I set time alignment manually for 1 seat listening on a standard installation the subwoofer is left at 0 delay, the back left speaker gets the 2nd least delay, the front right speaker gets a moderate amount of delay, and the front left speaker gets the most delay. This might not work the same depending on the way your head unit/processor works, but that's the concept I learned when I was running Alpine head units. The goal is to get information recorded in mono to sound like it's all floating in one small area above the center of the dash. You can get a nice improvement even if you can't EQ left and right separately, but if you can get the frequency response of each side matching it makes the imaging a lot better than just time alignment alone can ever accomplish.
As for the overall sound I want to achieve, I use a curve similar to this:
Right now I have the hump on the bottom end rolling off to 0 by 500 Hz and it stays flat until 8 kHz. I like more zing on the treble and I like the bottom end a bit heavier handed.