I use post EQ and have for years, although everything everyone is saying here is mostly right.
Of course, it all depends upon your setup and your sound.
I use post for a number of reasons and I get away with it for usually those same reasons.
First off, I have cabinets that are both very uncolored and even (what some would call 'flat'. What you're hearing through my rig is pretty darn close to what you're hearing from a line feed.
Also, I play a genre music where the bass is basically the 'lead' instrument. That ends up giving me leeway when it comes to how I set up. Often times I'm LOUD on stage, but so clean and clear that Its not a huge problem out in the room.
Also, from my perspective, being a 'genre' player in a rock'n'roll world...if I give a full range flat signal to the soundman, about half the time they don't get it right out front. If I give him tone with my highs attenuated, I can at least be sure that they'll get that amount right. If it ain't there, he can't boost it. I've gotten to the point where I don't really boost my lows anymore (thanks to my cabs, I don't have to) so I really don't have any big frequency peaks in my signal...just some valleys
