Curt,
Did you find a way to implement these correctly?
Well, now that's a real hot potato

We all know if you don't need these controls it's best not to add them. But, for a poor recording, a listening room problem, or a problem spot in the loudspeakers response (after all nothing is perfect) they may save the day.
You can add these controls, in moderation, offering only subtle changes which won't screw up the music any more than the defect your fixing with them. And you can design in a "defeat" that removes the controls from the signal path when not required.
I haven't used tone controls for a long time, bass boost can be nice for mood music at night, balance can help when the sweetspot needs to be slightly off center for some room placement reason.
I see most of these as issues that might arise in a secondary audio system, not a main reference system. So what does that mean? Add these controls to a preamp? Or perhaps an integrated that will many times be used in secondary systems...
It would be interesting to hear from some people who now use or would like to have tone, loudness, and balance controls.
BTW : Rob what do you use mono for? I like it for testing sometimes but haven't run across that feature in a while either.