My receiver has Audyssey 2EQ. I Think that has helped my room sound somewhat decent thus far. Is this similar to the sub eq you mention. Or do you mean a graphics equalizer solely for the sub?
Unfortunately, I am not familiar enough with how, and over what frequency range Audyssey's 2EQ works to to say with certainty how similar it is to a stand alone parametric EQ.
But, should you chose to add one (such as a SMS-1, or BFD, or R-DES), it would have the potential of reducing, or removing frequency peaks that will make bass sound boomy, muddy and slow. I would not recommend, however, using a graphic EQ as it would not have the precision needed.