Hi Mike
I occasionally bore the forum about graphic equalisers, so you may regret this. But I see it as a mission, so here goes.
This probably isn't your intention longer term, but if the flat setting was to be your preference, you'd be better off leaving the equaliser disabled. That takes it out of the signal path altogether, which is always better for anything that isn't being used.
There was some criticism on here last year about the equaliser causing distortion. That will happen with any equaliser and it's almost always a result of setting the sliders too high. Sometimes it's done deliberately, maybe to overdrive a guitar amplifier.
You will have noticed that, when you enable the B2 equaliser, the first thing you hear is a drop in volume. I'd rather it didn't do that, but at least it might reduce the risk of users applying settings that are too high. I'd usually start with an equaliser, real or virtual, analogue or digital, at "unity gain", where the frequency sliders are flat (in a vertical line) and the volume sounds the same whether it is on or off. Then make any adjustments to frequencies from there. When you've finished, it should still have roughly the same volume level on or off: if it seems louder, keep the shape you've created, but move it all to the left, even if you can't yet hear distortion.
The frequency sliders are an octave apart and in theory the frequencies listed (31Hz etc) mark the middle of each octave. 31Hz itself is below the bottom note on a bass guitar and many (most) speakers won't claim to reproduce sound that low. That's one that can sometimes be better set a little below unity gain if speakers are struggling.
Too many people use an equaliser as a fancy tone control, especially if it's an actual one, with metal or plastic sliders they can tweak incessantly when their friends come round (you know who you are). I'd respectfully suggest everyone should resist the urge (I know, it's a boy thing). For a hifi system (it's different in a recording studio and different again when mixing live sound) an equaliser should only ever be about compensation for the acoustics in a room or the characteristics of the equipment. If you can find a setting where everything you play sounds just a little bit better, leave it set like that until you change the room or the equipment. If you can't find that setting, leave it off and think yourself lucky. I used to use the equaliser on my B2, then found I didn't need it after my last system upgrade (new amp/DAC). I'd assumed I was adjusting for the acoustics in the room, maybe also the tendency for the speakers to be a bit shrill at the top end, but I was wrong.