QUOTE (epiphanic-scoundrel @ Apr 2 2009, 10:50)

A simple Q: is digital equalization always a lossy process?
(let's not take rounding and truncating errors into account)
Digital equalization is the only kind of equalization that could possibly be lossless. A digital equalizer can be set to process the signal with flat response, or the action of a non-flat equlizer can be equalized out. The only possible losses would then be things like rounding and truncation which can be practically reduced to be as small as is desired, by simply upping the precision.
QUOTE
Is analog eq always superior to digital?
You seem to be poorly informed. As a practical matter, digital eq can be far superior to analog eq. If a diqital eq does not equal or outperform a comparable analog eq, it is a design problem.
For example, digital eq with zero phase shift, or a wide range of desired phase shift characteristics can be readily implemented.
In contrast, analog eqs are generally locked into minimum phase response, which gives you any kind of phase response for a given frequency response that you want, as long as it is just one thing! ;-)
The problem with digital eq has I think been a combination of prejudice and poor design.