Re broad band EQ, both Denon 3805 and Yamaha RX-V1400/2400 have parametric EQs, so technically the frequency width of each band can be adjusted from broad to narrow. Just because there's only 7 or 8 bands doesn't automatically mean they're broad. It's not like a graphical EQ where you divide the entire audio spectrum by the number of bands.
With the Yamaha, there's a separate 7-band parametric EQ for each channel. IOW the center frequency and width of the 7 EQ bands can vary individually for each channel -- LF, Center, RF, R Surround, L Surround all get their own unique 7 band parametric EQ. Also there's a frequency bias control so all 7 bands can be confined to the low, mid or high spectrum.
That said, I've played with YPAO a lot, and when I turn the EQ on/off while listening to material I can't say which sounds better. It certainly sounds different. Some material sounds better with EQ and other sounds better without it. Also I don't completely trust YPAO -- it often picks a 160Hz or 200Hz crossover. It's sometimes applied a boost and a cut to the same band on the same channel. Maybe it's a display limitation, but it seems like a mistake.
To me the biggest current drawback is it doesn't work for multichannel analog in (SACD and DVD-A). But certainly more bands would be better. I'm sure manufacturers will improve this in the future.
The Yamaha ships with its own calibration mic. Re the Denon calibration mic, I'd suggest Ockham get a good mic, not use the Radio Shack mic. EQing with a non-flat mic is like wearing colored glasses when painting a picture.
