Well, strictly speaking, this is not an equalizer, which would serve as a tone control, but a frequency analyzer with peak hold markings, which measures the frequencies present in the signal (or song) being played.
true - this is more a frequency analyzer... but you could change your equilizer setting here as well. iPod is 320 x 320 correct? if so, I think this would work.
Is it just me or wouldn't this contribute to draining the battery? It's a great idea, but I'd never use it, mainly because I only look at my iPod's screen when looking for a song. Other than that it stays in its protective pouch.
i put another eq up on the page - i think its okay and i could even squeeze more space outta there. the settings would be below the customizable EQ - which i gave you credit for.
Also, AFAIK, the iPod display screen can only do that one color, black, applicable to change by the contrast setting. I notice you have a lot of lighter grey outlines. I don't think Apple can do that with their current iPods.
But don't let your creativity get the best of you, man.