I got the Lokius couple of months ago, mainly to use it with the turntable at night at low volume when the family sleeps. Ended up also using it with digital music, since the analog controls are easier to control than digital controls.
The idea that equalization is bad is a very wrong concept when taken in absolute. Equalization is definitely needed to fix the loudness curve, specially when listening at low volumes.
Now, there was some discussion about the choice of the frequency ranges assigned to the controls. The controls allow emulating the "contour" of the ISO 226:2003 loudness curve with a little over 20db depth. I was able to push the low end of the curve a bit higher by increasing the subwoofer volume.
In addition to the loudness curve, the highs/lows differ from recording to recording, and this is very useful to correct these differences as they are getting reproduced in the room.
I ended up using this only when listening to music from the loudspeakers. Its use with headphones is not that interesting, mainly because the levels with headphones are more consistent.
Sure. Just turn the 500hz control and everything is louder
I ended turning the left 2 all the way up, middle 2 all the way down, and the right 2 adjusted per taste.