If the analog to digital conversion is done well enough, I am not convinced you are losing a lot. The other benefits that my DEQX's speaker and room correction provide me certainly outweigh any minimal degradation (if any) that might come from digitizing that signal through the DEQX. Of course, the sound quality will also depend a lot on the quality of your DAC as well. Blasphemy, I know.
Since my signal is already being digitized, I have also become interested in the possibility of digitally applying the RIAA curve, which some (usually those selling devices that can do this) suggest has sonic benefits compared to applying the RIAA in the analog domain.
