Equalizers- love them or hate them and why?


I am new to Agon, but haven't seen many audio equalizers listed in high end audio systems. Why?
bronxer99
I use a Velodyne SMS - 1 to  apply low pass to my sub and EQ a nasty room mode centered around 40 hz

My amps can take just about any el34 or 6l6 variant so that's how I "EQ"  my speakers....  


My system doesn't have them, but I think most audiophiles around here who are unsatisfied with their sound would be better off with them.  If I ever buy and "end of life" system, it would probably include an Accuphase or Mac integrated with tone controls.  Plus, whenever I recommend an amplifier to a budding audiophile, I always recommend a Marantz or Cambridge with tone controls.  Just makes them happier. 
I have always used one.  Nowadays I use a vintage Kenwood graphic/parametric EQ, but only for recording.  I digitize vinyl and other analog sources.  I am mostly correcting frequency balance issues in the source material, source gear, and recorder (a Marantz pro-sumer CD recorder).  Easy-does-it is my rule.  My needle drops have gotten pretty positive comments when played at my local audio club meetings.