...And I don't personally like the fact that the fiio eq neuters the volume- I know it's for clipping I just prefer more of the Sony, Cowon implementation.
I don't own any Cowon but I'll venture a guess that it is similar to that of Sony - that is, the DAP is internally limited to be lower in volume (and thus lowerin dynamic range) at first all the time, then they allow the EQ to set freely to max. While it might make EQ looks like it doesn't clip, the actual fact is that you can't get the max output even when you are not using EQ. FiiO does the opposite, only limits the dynamic range / volume when EQ is engaged but allows the user to get the full volume when no EQ is used. To me, it is just the two faces of the same coin, neither is a better solution than the other.