I have ARC #1.... It is sweet. I too forgot to shut it off on exporting my first tune.
As far as ARC'ing headphones.... it's called ROOM correction. And it's purpose is to try to alleviate some of the deficiencies in the room. But, you already know that. Cans, are what they are. I suspect that they could model the various cans and have presets to correct for them though..... seems doable.
I really need to get back to making ARC a habit. I've kind of drifted away from using it. SO..... I should take the time and do another setup, and start back to using it on every song. I guess the reason I stopped using it is that I am very familiar with the overall sound of the room, and the speakers, and just got lazy. Either one, two, or all three.