The whole honk fest thing is amp to amp variance. Most of them are honky w/o EQ, and some of them (the best ones) are not. I've had 4 of them (All MkIIs to be fair) now that sounded killer with the EQ off (or no EQ) and I could easily play the amp without missing it.
I've owned a number of no-EQ versions, and it wouldn't scare me to buy more if the price was right. In the bedroom the onboard GEQ is convenient. In the band, I would always use my PEQ in the loop instead so whether the amp has a GEQ or not is irrelevant here. ...AND, on average the no-EQ models have a faster attack & more pure tone than the EQ models (based on the 20+ I've had), so PEQ in the loop of a no-GEQ amp at a lower price FTW.