I don't have problems with the presence so much, but there definitely need to be more points in the "meat" of the guitar tone between 150Hz and 3K.
I don't often use the output EQ since I'm always listening through my CLRs or IEMs, but the amp tonestack works similarly (I realize it's not exact) and it simply cannot cut problem frequencies without removing good ones.
My QSCK10s a are a perfect example where output EQ would be excellent to fix the midrange but you can't because the Q is too wide. If you boost what needs boosting, you can't also cut what needs cutting from the previous boost.
I suggested a PEQ for the Monitor Out in the Feature Request section for this very reason.