So after watching Dan and team talk about the new mastering tools in one of the recent Cake TV videos, I am wondering why I shouldn't (or couldn't) use it as a track eq.  It has more features than the PC EQ.  I think the linear phase capability can be disabled.  It won't be quite as convenient as the PC EQ, but the functionality it provides would be a good trade.

The EQ is pretty efficient with precision set to "Non Linear." No latency and low CPU load, it should be fine for tracking.

The PC and LP EQ are very complementary. You don't always want linear phase response, nor do you always want phase-changing analog emulations...right tool for the right job, and all that. 
 
One of the biggest differences is that conventional EQ can cause considerable level changes. Linear phase EQ is less likely to challenge the available headroom. However, note that linear phase EQ is much more subtle - which may be ideal but it also may not be. Remember, the QuadCurve has those four different curves, which make it very powerful. 
 
I've been playing with the LP EQ a lot, and it's extremely cool. It's light years ahead of the old LP-64 EQ, and the mid-side processing is huge. Between the LP EQ and the QuadCurve, you have pretty much everything you could want in terms of shaping response.