And this will do what you want in only 1 rack space:
http://www.carvinguitars.com/products/EQ430
Word of caution, you can not use a TRS to XLR cable to connect the insert jack of the Amp in the mixer to the XLR ins on either of the two devices I mentioned. You'll need to use a standard 1/4" insert cable and then a 1/4" male to XLR adapter on the send plug to go into the input. Has to be done that way even if you're using external amplifiers. TRS insert jack does not function the same as a TRS balanced output.
Wow thanks guys!
Duane, yes I realize the obvious now, I was a little slow on the concept, but I get it now. Of course I can't combine 2 signals and EQ it and separate them again. Steve is correct it has been mentioned, heh.
FWIW I have a dual 15 band single rack space behringer right now, but I much prefer the 31 band. I don't know why, but I just really like tone shaping with the 31 band as opposed to the 15 band. And yes, right now I am using two dual 31 band EQ's, and each is taking up 2 rack spaces.
Scott. I do like the Behringers, but they are $300 apiece, and I can't afford two of them. But...the Carvin 4 channel EQ looks amazing. I like Carvin better than Behringer anyways, and it looks easier to operate on the fly. I do have to think about changing EQ settings during a song, since I am our guitarist/singer and soundman. Also, I currently use 4 standard insert cables, all with 1/4" males all around, so I don't think connectivity will be an issue. Plus, the Carvin is $349 or so. I am really leaning towards that fella. I ultimately wish to purchase the Carvin 4 channel 2 rack space power amp, too, so I guess I better start saving my money!
Thanks for all your help guys. Much appreciated.