Summary: It is difficult to find a decent parametric EQ these days. I picked the 3402 up used on a recommendation and after reviewing info about it.
I'm very pleased with it...it is flexible in that it can be used as a split EQ (3 bands for 2 channels, and 4 bands for another 2 channels), or it can be used as 7 bands for 2 channels (the way I am using it).
The frequency ranges overlap, which I consider a big plus. The "Q" can also be adjusted for each frequency band, which I find very useful in tweaking. Finally, the gain for each frequency band can be set. In all, this is a very flexible and capable unit, for someone who wants to take the time to tweak. I would take a parametric EQ over a graphic one any day.
Similar Products Used: Audio Control EQX, Alesis MEQ-230, Hifonics Plato.