Is there a way to change the EQ settings on Pandora or for the stock music app for that matter?
Was worried about the audio output when I first got my Moto Droid, but the output is infact quite well balanced. There's not really any need for EQ as long as you have headphones that match your listening preferences. What phone & headphones are you using?
Regardless of what headphones you use, you can still tweak the EQ to get the sound you're looking for, and even with nice headphones, It will still sound like crap if the EQ isn't the way I want it.
OK, so here's the bad news: other than one poorly rated music player on the market under search terms 'EQ', there's nothing currently available for Android that I'm aware of. There are still some inline analog EQs available, but I know that's a rather cumbersome solution and most are only 3-band.
For now you've got a few choices: make sure you're usng a high quality codec for your music, get better headphones with a flat frquency response, and/or tell yourself you're listening to the music the way the audio engineer intended (although I know there's some really poorly engineered music out there. ;-)
I'll keep my eyes pealed and post back if anything new turns up.