Hey, I have heard some great things about this. Plus, a 7-band EQ for 30 bucks! Wowza.

So, would this work with say, cutting the muddiness and boosting the thumpy, in your chest bass with palm mutes and such.

Also, what freq. would I cut and raise to get some great squeals?

And I know this is off topic, but what are some good pickups for hard rock and metal stuff?
My Gear:
Gibson Explorer, Worn Cherry-

Fender Roc Pro 1000 - 1 x 12 Combo, 100 watts, Hybrid

Blues Driver Keeley Modded
I used to have a Fish n chips but I traded it in on a dod 7 band as it has more range.
To make your sound chunkier, raise the lowend (the left) lower the middle just a little bit below center and make the highs (right) up a little.

For good squeals raise the highs

for good pickups go to www.dimarzio.com and click on the pickup selector, answer the questions and it will tell you what pickups will work for what you want.
Out here you've gotta know where your towel is!
FnC is a decent EQ if you aren't going to stomp on it hard. I just leave mine on all the time on top of the amp in the effects loop with some short patch cords.