Right, but I need to be able to pinpoint the frequency to raise or lower.
LP and HP....why bother? Useless.
Highpass and Lowpass are like cliffs - they cut off everything before or above a set frequency. Almost every track in every great recording has a degree of this, so we'll have to disagree on the uselessness.
I think you're talking about parametric EQ, which I find to be practically useless for electric guitar.