The EB16 is an awesome piece. Technically, it can do much more than a rack effects unit, and you do not need a mixer to use. If you ask me, for the new price of an XL it should have been free.
It sounds excellent, but is fiddley, and there are no presets. You can save your own though.
If your looking to keep the clutter down, it's an good idea.
The Associate.
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MPC 2000XL, Dave Smith Evolver, Juno 106, Mackie 1202 VLZ.