Although your past experience has been that surround modes don't generate as much fullness, as a "double-stereo" configuration does, I would urge you to audition a Pro-Logic II receiver.
My first "stereo" was actually a "quadrophonic" system, which meant that unless I was listening to a discrete four-channel tape or record the front and back pairs of speakers got the same signal. I've never used less than four speakers in my life!
I'm so happy with the PL2 "music" mode that I use it virtually all the time when listening to two-channel music sources. If you live near a quality audio store, I highly recommend you audition it. It really opens up the sound stage in a way that a "double stereo" configuration just can't match. Hope this helps, I realize I didn't actually answer the question you asked.
On the EQ question, I have seen some receivers with built in EQ. But generally they are only five or six bands, and I have to wonder about the quality when the manufacturer is trying to keep the receiver's price in line with other receivers. I would think you will get better quality with dedicated equalizers.
