Hey Gents,
I used to be in the same situation with the EQ's in the MP-2, but as Kim pointed out trying to use both will drive you a little crazy.
Like you, (Kim & Richard), I found that using one or the other works with a lot less fuss. As Kim stated, you can get a tone dialed in at a low volume, but at a stage volume it would not work out so well. I would generally try cutting back on the gain at higher volumes on the MP-2, because it's easy to go overboard with the distortion in that preamp. Sometimes, that would work, other times, I'd have to tweak the EQ again at higher volume.
I like to just set the parametric EQ with the initial program now, and just boost or cut the graphic EQ in areas that need it, like on the Fat High Gain voicing, I'll cut a bit of the bass at higher volumes because it can get pretty flubby. I may also boost the high mids and bring down the highs a little. It's all about what you need for the song you're using it in.
@ Richard: I'm with you on ebay
@ Eric: wait until you get into using the built in wah in the MP-2.
Harley
