Image quality assessment (IQA) algorithms evaluate the perceptual quality of an image using evaluation scores that assess the similarity or difference between two images. We propose a new low-level feature-based IQA technique, which applies filter-bank decomposition and center-surround methodology. Differing from existing methods, our model incorporates color intensity adaptation and frequency scaling optimization at each filter-bank level and spatial orientation to extract and enhance perceptually significant features. Our computational model exploits the concept of object detection and encapsulates characteristics proposed in other IQA algorithms in a unified architecture. We also propose a systematic approach to review the evolution of IQA algorithms using unbiased test datasets, instead of looking at individual scores in isolation. Experimental results demonstrate the feasibility of our approach.