Re: Differance between parametric and band EQ?
A graphic eq is called that because the position of the knobs gives you a "graphic" representation of your frequency responce.
A parametric eq allows you to adjust the "parameters" of the tone control.
So, in a parametric, you would use one slider to "dial-in" the frequency you want to adjust. Use another slider to determine the degree of boost or cut, and yet a third slider to vary the "width" of the affected frequency range.
A parametric is usually better for solving "problem" spaces, but bear in mind, either style can be built cheap or quality.  Generally though, your audio signal goes through fewer parts in a parametric, which should equate to less interference with the original signal.