I appreciate the swift response. The reason why I went with Corona is because I need a good Product Visualization render engine that provides all the features needed for 3D rendering commercial products (furniture, tech stuff, cars, food, etc. -- ANYTHING THAT SELLS TO CLIENTS). It was either VRay or Corona for me and I went with Corona. I do not imagine I can get the same Studio render results in engines such as Unreal, which are game-centric. All I need are 3 lights, two cameras and a white floor.
In any case, to add onto your reply, those materials that default to real world scale, does it mean that the number shown next to the material should be applied on a sample of that size? Meaning, when I unwrap a model, do I keep the size of the UV shell to correspond to the actual size in 3d space? For instance, a 100cm object in 3d space should have shells that fill the 1 to 1 UV space? since the whole 1 to 1 UV space can be considered to be 1m squared?