The only design review meeting I have been present in was conducted by the leader who would be moving from point to point in the agenda. The other members would be adding important comments and/or questions to whatever points were brought in the agenda. As Hiren mentioned in one of the points mentioned before, the meeting was not as strict as you would first think. I felt like the environment was one where the team knew each other for too long, they would laugh and get work done at the same time, they would add comments to the work done by others in order to improve the quality work. Something interesting they mentioned was the following: A design would normally be sent 1 week or 4 days before the meeting was held. However, there was some very intense days of work where this would not happened and the design would be sent with less time than that.
Let me know what you think.

Sincerely,
Roberto Pineda.