I've heard lots of complaints, and there are issues such as #52 related to it. I've disabled it by default, but at some point probably should figure out what's wrong with it.
A friend of mine's computer has severe static issues when using the EQ on Windows on battery power, along with the preview device. It's possible that there's an issue with the custom DirectSound driver, but I think there's a more general problem somewhere here too, as I've had issues with the EQ crashing Exaile on OSX.
I'm hoping this will just magically resolve itself after migrating to GST 1.x.
I think the equalizer is working fine again now (with #104, c910e99, ef4a7ec, df81c05, etc.) in gi branch. At least it does for me. Can anyone confirm that?
The equalizer seems to be working perfectly on my Fedora23 system.
Good enough for me.