Thanks for the info everyone.  Looks like I can be sure that no
resolution is being lost relative to the original when I equalize it. 
(My calculator says for a 24 bit signal, I've got 48dB of headroom
before I lose resolution).  I agree with quadguy, there is such a
noticable improvement in bass response that the equalizer is definetely
worth it. 

The expensive Tact room correction gear has been raved about by
audiophiles, but even its 1500 dollar model doesn't have phase
correction.  I spent all my money on the dac so I'll have to trust the
behringer.  I don't know if the benchmark is any different than any
high quality dac, but its jitter immunity insulates me from high end
transport voodoo, and its one component I know I don't need to
upgrade.

Thanks for the explanation of the dither.  I agree with you pfarrell
after the dac I try to keep it as simple as possible. I use the preamp
in bypass mode, and have super short interconnects.


-- 
mazurek
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