I have ordered one of these for a play. Tenson has also mentioned that he has one a few times. At first glance, a graphic equaliser, which will have the neurotic audiophile running for the hills. However, look a little closer, and things get more interesting. First off, a fair few people have been making a big deal about room equalisation, examples being the TacT RCS and the Tag AVR32. The behringer DEQ can as well, for a lot less money. By an inferior method? Well.... no. The AVR32 uses an AD SHARC processor to do the equalisation on 5.1 channels. The Behringer has two SHARC processors to allow it to perform more complex operations on stereo data. The Behringer has a microphone input (with built-in phantom power) for room EQ, which it can perform automatically. Other options are things like an expander (opposite of dynamic compression), compressor, etc. It will also perform A/D and D/A conversions with chips from AKM. The AKM AK4393 DAC chip is the heart of the M-audio superDAC (although until I take the lid off my DEQ when it arrives, I don't know what exact DAC chip is used in it). You can also set the display to show needle-type VU Meters. :D Or a 61-band real-time FFT... I shall report further... ETA is tuesday.