The EQ isn't API, but it's definitely nice. It is far superior to the prosumer range that you mentioned. An analogy would be: what the RNP or Grace designs mic preamps are to mackie/soundcraft/A&H, is what the Midas EQ is to the EQ in those boards. The EQ isn't as open or focused as the EQ in a world class preamp, but it isn't anything to put down. And, of course, it isn't going to be as sweet as the EQ in a dedicated unit. But it is really nice and easy to use.
So, if you've mic'd and recorded your sources well, you won't need that much EQ anyway. I find it's more about compression after the fact anyway. Just capture the source well and the EQ'ing will be subtle. For character, I use compressors or a piece that has the "character" of the "brand" that I'm looking for i.e. Neve, Chandler, API etc.
The thing about the Venice
board, when compared to the prosumer level, is the build quality and sound quality. It has a tight, clean sound with nice stereo separation. Yes, the summing, both recorded and monitoring, is as nice as the API 8200a. It is present, punchy, wide and focused. It has a lot of inputs and outputs, grouping, faders, monitoring, inserts etc. It also has some decent preamps that are good for DI'ing synths etc. And the EQ is great for balancing things that are recorded well.
Here's another analogy: prism et al. might be analogous to buying a desk by rupert neve or ssl or api, whereas Lynx aurora is analogous to Midas and Toft etc whereas RME, digidesign etc is A&H and soundcraft .... to my ears at least.
I monitor using Genelec 8030's with sub and through JBL loudspeakers with an 18 sub .... plus Sennheiser hd650
To me, it's all about work-flow and I can't get into the the modular thing that summing boxes require. I want things to be centralized.