So I measured the EQ with the 1.8 firmware and its a very odd bug - if you are interesting I posted it over on AudioScienceReview:
https://audiosciencereview.com/foru...port-for-peq-dsd128-pcm384.55160/post-2035872
But a quick summary for those you don't want to go:
This firmware I am using (which I believe is the latest as of this post):

Setting 3 different filters at 100Hz, 700Hz and 2000Hz:
I end up with this EQ (when measuring a FiiO FD15):

The actual PEQ values set are 1.83x times the original value so:
100Hz -> 183Hz when measured
700Hz -> 1280Hz when measured
2000Hz -> 3670Hz when measured
So it's 'workable' with a calculator to set the correct EQ - but please
@FiiO if you could fix this it would be an amazing dongle (especially at the price).