I also am a newbie, but I have 2 cents worth to throw in anyway.
Johnny Canuck,
Your caution about degrading digital signals may be true...but I'm not sure why it would be. By the the time the signal leaves the preamp, it has already been converted to analog. The EQ makes it's adjustments to the analog signal, then sends it along to the main amp. The EQ input, correction, and output are all analog. It seems it would affect an analog source the same as a digital one, doesn't it??
nm2285,
Rives makes an expensive, well reviewed EQ that only allows the selected freqs to be cut..not boosted. I believe it's EQ boost that can degrade an otherwise high quality signal, perhaps because the amp section in many EQs isn't up to the standard of the rest of the system. Anyway, if you have a few freqs with significant boost, ie top end "sparkle", that may be introducing some of the noise.
OkieG