This EQ is a software implementation of a physical device from API. I'm not sure it's sound close to the original or not but it does sound very nice.
The EQ has a 10 band and nonlinear behavior of faders what makes manipulating of the plugin much fun. =)
Best application (IMO) for this EQ is a voice and guitars because this plugin allows you to dial "the right" amount of midrange to your track very quick and easy.
And, of course, such as the plugin emulates physical device it adds some analog character to your sound.
My conclusion is: very musical and versatile plugin for voice and guitars. Worth money.