James, may I ask why you decided against it? 
Hi Dave,
It is a matter of retaining phase and timing throughout the signal path. Each musical sound is comprised of several different tones, or harmonics, each having its own amplitude, time and phase relationships with the others. To completely preserve the unique character of each sound, it is necessary to preserve all of this information.
As an example the ear/brain determines direction or position of a sound in two ways - amplitude and timing. But timing is the critical component of where the sound of something is coming from. Most products (especially speakers) rely on level to determine where the sound is located within the soundfield. We feel that maintaining both the amplitude phase and the timing of the signal is a critical component of maintaining a realistic sound stage with excellent images and position of instruments (have a listen to the Quad electrostatic or Thiel speakers as an example). Equalizers screw with that phase and timing issue to the point where we feel it does more harm than good.
Also equalizers tend to 'equalize' in a very small listening window so although the frequency response at the listening location may be flat everywhere else in the room is will be worst than if you just left things alone. Remember that the ear/brain hears the direct sound but also the reflected sound (it's called power response) in the room and if the direct to reflected energy is out of balance it does not sound natural.
james