I don't think you need a large room to use bass traps. In the picture, they're only a few inches thick and against the walls. There are also quarter-round shaped traps available that fit into corners. See echobusters.com for an example.
If you read the article closely, you'll see the point made that nulls are at least as big a problem a peaks, and that controlling bass reflections/resonance is the only way to fix those. So EQ has its place, but you should first fix the room and speaker placement as much as possible.
He's really right about nulls. In my small room, there is a big null around 170 Hz. I was able to tame it somewhat with speaker placement. I noticed it especially on acoustic small jazz combo recordings: as the bassist would ascend the scale, some notes would just disappear!