(Note that it's a long time since I looked at the empeg's EQ. John and John configured mine, and they might want to shoot me down here)

Looks like it only supports two parametric EQ bands per channel; the others are standard "graphical EQ" (i.e. not parametric). The empeg supports 20 band parametric EQ, split across 2 or 4 channels, meaning 5 or 10 bands per channel.

The empeg EQ is adjustable on the fly, and has multiple memory settings, whereas this only has 8 memory settings.

It's 24-bit, but so is the Phillips DSP used in the empeg.

In short, unless someone else can think of a compelling reason to get one of these, I'd stick with the empeg if I were you.