#2
For the price, I don't think it's a significant enough difference. Even if you bought a GE-7 used and with all the shipping you still managed to get them to mod it for less than $120 (which is what the MXR 10-band seems to cost for you guys, I did a search on Musicians Friend) total, it still has 3 less sliders to play with and no gain control.

I have the 10-band and would definitely recommend it. Only downside is the 18V supply need, but buying it new comes with a supply in the box.
"Air created the greenness. And once you've got something, that leads to otherness." - Karl Pilkington.