I would, though, rather put the money towards the room treatments than a separate EQ.
I'm working on room treatment now. And I have to say, at this point I'd take an EQ if it all ends near the same place. My theater is the first room you see when you walk in the house, so some of the basement or dedicated cave options are not as workable for me. Making sound treatment look good, while keeping it cheap is a serious challenge. Now that EQ can be done in the digital domain (thus helping the noise problem mentioned) I would love to get my hands on a truly workable EQ. The key to that is the availability of free software to check your progress. With no means to check other than ear, you never stop fiddling. But with REV, etc., you can SEE the results. The market is in dire need of EQ, and you are seeing it with the new rigs.
