I am using a Behringer in my home setup, where is manages a bad 56Hz mode very well. It takes a narrow -12.5dB notch to partially neutralize the mode (floor/ceiling). Normally the mode is not very audible, as the note seems fairly rare on my cd collection, but on a couple of cds the mode sounds really awful. I say "partially" neutralize, because I feel that the overall sound feels a mite sterile when the bass response is brought really flat.
As for use with VMPS, I've actually tried it! In the listening room where the VMPS was used, there were a host of nodes measured. Some correction was applied (broader, less deep notches were needed), and it made many cds much more listenable. The initial impression was also that "bass was diminished". Well, that's inevitable when you remove reinforcing nodes... The bass without eq was really very lumpy. Overall, the quality of bass improved, and this in turn allowed midrange to be heard clearer. DEQ is a serious option for those stubborn modes that can't be managed by speaker positioning and room treatment.