the pioneer actually has an independant L/R 16 band eq (ie a seperate 16 band for each side), not to mention time alignment. The auto eq will get you a roughly flat frequency response as well as set the T/A for you (that's the best part). The crossovers can go all the way up to -36db/oct for the sub output and -24db/oct for the front and rear which is MUCH higher than normally possible. (most radios and amps have -12db/oc xover slopes).
Another cool thing it does is allow you to try an active system if you want. In an active system, the passive crossover between the woofer and tweeter is not used, and the speakers are instead crossed over inside the head unit or processor. The advantage of this is that you can easily adjust the level of the tweeter and woofer independantly of each other, as well as time align them independantly (instead of just picking a spot roughly between the two). The crossover point between the two can also be played with at much higher slopes than in a normal passive crossover and all this can be done while sitting in the driver's seat. Plus takign out the passives gets rid of the power robbing coils and capacitors. The disadvantage to all this? You need seperate amplifier channels to both your tweeter and woofer. This means either a 4channel amp withthe fronts to the tweets and the rears to the mids, OR two 2 channel amps. This is why I have so many amps in the sytem I'm building - it is a fully active 4 way system (tweeter, midrange, midbass, subwoofer)
Here is a link to some more great info on active systems
http://www.bcae1.com/elxovsp2.htm
Higher voltage outputs allow you to reduce the gain on your amps, while still getting them to reach their full output. The advantage of this is a greatly lowered noise floor, and better sound quality in general.