i belong to the group who believes in EQ...cause personal experience la... EQ really help my previous system to sound a lot a lot better...
from that day onwards, i support EQ if it's needed....
:)
you can always try to use EQ first before upgrading your other components like speaker or amps....right? so for me, no harm trying and go for EQ...
the main question would be
1) Does your system sound reasonably good without EQ?
If it does not, it's best to delve deeper into understanding what is really holding back your system rather than add an EQ to solve it. If it does sound good, by all means add the EQ to give you better flexibility to fine tune the system to perfection or closer to perfection. :)
2) Does adding an external EQ induce other problems?
If adding an EQ requires you to spend on extra cabling that you cannot afford now, it may be best to keep it on hold rather than go half cooked. 'KISS' applies here. The more you 'hantam' into your system chain, the more complicated it gets to detect nagging problems. Another problem with adding EQs is whether the EQ itself changes the resolution, tonal and noise floor in your system. If it does, you may want to think twice or look harder to find another EQ that fits your system without robbing any qualities to begin with. If you can't find one, then maybe you should KISS again! :)
3) Do you have the patience to tune an EQ?
Honestly, nobody is that free to sit in your car for hours, a couple of times a day or in a week to tune the EQ and for FOC. :D Furthermore, it is not recommended to tune your system for more than 30mins each session. Ear fatigue, concentration fatigue, car charging system fatigue sets in. You must at least train your ears so that you can participate in the tuning process and to give the tuner a second opinion. The tuner may be very well familiar with guitars and pianos but maybe you are better with the other strings and percussions. That way, we do not end up going in circles. Most people that add an EQ without the patience will end up settling with an average point. If your system is already good to begin with, this average point does not really justify the expense in adding that EQ. Money could have been spent elsewhere with greater results.