Looking back through the archives here, it seems the bass and treble controls were situated where the equaliser is now. The equaliser became an option accessed in the Advanced menu (Get EQ). Someone else will know more.
"Unity gain" on the equaliser, where the volume is the same whether it's enabled or not, can be found by having all the sliders in a vertical line about 62% of the way up the horizontal scale, that is somewhere to the right of the mid point. 62% is an estimate, if there's any doubt, it's better to go lower. You would then work from that position to find the frequency settings you prefer, but using a mix of cutting and boosting, so as to keep the overall volume at unity when you're finished. That's the way to avoid creating distortion whilst retaining an optimum output level.
There's no reason you can't use the equaliser in the same way as tone controls, to compensate for room acoustics, some characteristics of your speakers...or your hearing. In fact, the equaliser is a lot more versatile. Find a frequency curve you like, one that makes everything sound a bit better, check the volume is the same with the equaliser on or off and listen for any hint of distortion. You can always move all the sliders slightly to the left while keeping the shape that works for you.