of all the default settings listed here, I find this the most useful. I don't think live's layout of frequencies & filter types is very logical. I also leave all the filters off by default (so I can save RAM on each instance of eq I load) but leave the lowest filter ready to high pass unnecessary subs. filter 5 is particularly handy, as I find myself making a cut around 500 hz all the time.

set filters 1-8 to 48db low cut, 12db low cut, low shelf, bell, bell, high shelf, 12db high cut, 48db high cut, respectively

set frequencies 1-8 to 30, 200, 300, 500, 2k, 3k, 5k, & 18k, respectively

turn off all filters but the lowest

set the eq to "oversampling"