I use the graphics equalizer quite a lot on my NL 920, not because I like adjusting the sound, but because I found the volume level function can boost the volume of a quiet podcast for example, and sometimes switching off the volume level function can also have the same effect.
That requires a tedious trip into settings and scrolling down through the non-alphabetically organized settings list until I find the Audio entry.
It seems some-one at T-Mobile also found this irritating, as their Nokia Lumia 820 with firmware 1232.5957.1308 actually comes with a Live Tile which links directly to the equalizer, as WindowsMania.pl discovered.
They note that they should be able to create a short-cut tile to the app which will bring the feature to everyone, which for me would be welcome news indeed.
Read more at WindowsMania.pl here.