If you don't know that, the H701 may be a bit much to handle. Anyway, a graphic EQ has preset centers and Q's. Meaning you get a list of preset frequencies that you can boost. WIth a parametric you pick a center frequency and then adjust the width (q) of it's adjustment. Graphic EQ's usually have quite a few more bands to make up for the slight lack of flexibilty, and are easier to use. Parametric EQ's are great if you know how to use them, especially if you already know what frequencies you need to fix.