I wasn't referring to some POS from a DAK catalog, I meant a real one- the kind used for control in fixed installations. They're used extensively in concert venues, too. I don't think the sound engineers get a false sense of usefulness when they use these.
Here's a link to the company whose equalizers I have installed (in the late '90s-they have all new models now) and have seen in action.
http://www.whiteinstruments.com/index.htm
The same system designer/engineer designed the system at the new Dallas Stadium. He's based in Austin.