A system and method for an automatic set-up of speech recognition engines may include a speech recognizer configured to perform speech recognition procedures to identify input speech data according to one or more operating parameters. A merit manager may be utilized to automatically calculate merit values corresponding to the foregoing recognition procedures. These merit values may incorporate recognition accuracy information, recognition speed information, and a user-specified weighting factor that shifts the relative effect of the recognition accuracy information and the recognition speed information on the merit values. The merit manager may then automatically perform a merit value optimization procedure to select operating parameters that correspond to an optimal one of the merit values.