Equalizer in a Hi Fi system


Just curious to hear everyone’s opinions on using an equalizer in a high end hi fi system. Was at work tonight and killing time and came across a Schitt Loki max $1500 Equalizer with some very good reviews. What are some of the pros / Benefits and cons in using one. Just curious. BTW. I’m talking about a top of the line. Hi end equalizer. Mostly to calm some high frequencies and some bad recordings. 

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And yes, I’m equalizing RECORDINGS. not gear. Excellent recordings obviously require less or no adjustment 

I have a vintage Kenwood that I use mainly when doing needle drops via my Sugar cube SC-2+.  Just a light touch of added low end seems to fill out some bass-shy records.  The rest of my system is dialed in well enough that I don't need it for listening.  Nor do I use the base and treble controls on my McIntosh preamp.

Sometimes I think that's exactly what I need for less than stellar recordings. Shrieky vocals especially are where I long to adjust.The ability to adjust subwoofer equalization has given me very positive results, so why not tweak the upper mids too.The possibility of degradation is why I hesitate and my negative prejudice to be honest. But this thread has inspired me to do some research and open my mind. It does no good to wish all of my favorite music should be remastered by Analogue Productions;-)