well it's about frequency response. I look at IEM measurements to get an idea about how I'm likely to enjoy them, but I'm also thinking stuff like "oh that spike at 6khz is really narrow and going to be hard to EQ without making a mess, probably not worth getting this IEM". to me FR and EQ go hand in hand. I actually measure the response with EQ applied in the loop to check that I'm getting what I want from the IEM, and that I'm not creating a distortion golem (also sometimes I alter the phase response, but I can't say that I really notice a difference). so at least to me, we're dead on topic ^_^.
turning ON the EQ will at best tell something about that one EQ, but it could also be very revealing for the wrong reasons:
- subjective failure. when turning the EQ ON lowers the volume level as a small precaution against clipping, people notice something changed but attribute it to the first thing they "feel". usually it's soundstage, clarity, or bass quality. it's the same joke as people changing the gain setting and making up subjective changes when half the time it really only changed the gain. everybody hates the loudness war but do they love falling for the "louder is better" trap.
- the EQ on the DAP can be utter crap. for the last 4 years I've made µSD libraries with the music converted to lossy+ EQ (plus usually some sort of crossfeed)applied in foobar while converting. PITA, extra work, and the need for one µSD per IEM I use, simply because of how some DAPs have crappy or way too limited EQ functions. I mean on my Sony DAP I can't lower the sub!!! one step on the slider is about 3dB at once when I notice 0.5dB easily in the midrange. and of course I can't relocate the frequency or change Q. it's a toy EQ for babies like the old "rock", "jazz", "classic" options. the DAP is at fault. not EQ.
my EQ on the computer is great(fanboy talking), it's probably the best stuff I have, digital or analog on my playback system. when I fail to get a good result, I only have the organic mass between the IEMs to blame. ^_^