Look at this post for a probable solution
Partition hda3 contains all the user settings. It normally isn't affected during an upgrade, so the settings should stay intact. Backup of settings could be handy in case of a disk crash or a harddisk-upgrade.
Just another thought : Someone could create a program which modifies the eq-settings in the partition-file, and have it upload to the empeg, in the same way as Tony's logo-editor...

Frank van Gestel