Hi osbourne
I apologize because was send late.
yes cross corrilation is process consumer
another method is use of adaptive equalizer. e.g. if you use LMS algorithm it require really little process and converge slowly to equalize your channel.
the advantage of using this method is that in addition of delay, filtering offects of your channel can be equalize.
at last, there are so many kind of equalizer structure (Linear, DFE, ...) and convergency algorithms (LMS, RLS, CMA, ...) that in accordance to your need can be used.
Regards