I sometimes us a Digiteck MEQ Dual 14 programmable EQ. Love that thing and can really bring some speakers some life. It's a fun tool.
I also have a Behringer 8024...
The DSP8024 features a 31-band graphic EQ with a real-time analyzer and an Auto-Q function for automatic room measurement and correction plus three bands of parametric equalization. Further highlights include a peak limiter, an adjustable delay of up to 2.5 seconds, a noise gate and BEHRINGER’s renowned Feedback Destroyer.
http://www.behringer.com/DSP8024/index.cfm?lang=engDoes 32 bands of EQ, spectrum analyzer, auto room EQ (VERY cool)
I bought this after being at a friends and seeing him us the auto EQ feature with a measuring mike and take some very mediocre speakers and make them sound fantastic.
i just today ordered the right measuring mike and when it arrives i can start measuring everything and seeing whats up. Should be real fun.
additionally I have a BBE sonic maximizer that always makes gear sound better. Magic box, that one. Going to reintegrate it into the system soon. Good info here on what it does. all i know if ever time I put it in the chain of any audio signal I perceive it as better, sometime WAY better.
i am not an audio purist, I will use EQ and love to tweak when i have time.