The EQ is one of those that may look limited compared to a lot of digital EQ but do not let this fool you as each setting has been carefully designed & each frequency chosen for musicality - so therefore it’s almost impossible to make things sound bad with it simply because you cannot create a bad setting, whereas most “digital” EQ plugins have many, many more bad settings available than good ones so it is easier to make a mess of things, if you follow me.
I’d definitely take issue with saying the wide Q makes it best suited to boosting, as nearly all EQ actually sound better when cutting (there are exceptions though and this is one of them) but it certainly does sound good boosting - especially the top end from 10KHz upwards. I confess freely I prefer to use it on group channels or FX returns - it works wonders on reverb returns, much better than most of the filters found in most reverb effects for sure.
The compressor is the pick of the 2 for me though. You get 2-in-1 with the joint feed back/feed forward modes and best of all if you are using the VST3 version in a suitable host you get native sidechaining available (although only in Feed Forward mode, as even though you can set up a key for the 5043 in FB mode, it does not respond to the key you set) and this is worth the price of admittance alone as sidechaining dynamics is about the most fun you can have mixing.