I think too many people over EQ their amps. I think the reason for this is a lack of good natural tone from their guitars. However, with the G&L, I get great tone from the guitar and always want the sound of the guitar mixed with the sound of the amp to come through when I’m playing, instead of just the sound of the amp. Also, with the G&L I have bass and treble knobs, instead of general tone knobs.
My solution? Set the EQ knobs to 5. Adjust the gain, channel volume, and reverb to your liking (keeping the channel volume at least at 3:00), turn the volume up a reasonable amount, and play away. By switching the amp selector knob with the gain at 5 and the channel volume at 3:00 or 4:00 you can get a variety of really great tones.
Another favorite setting of mine is Blackface with the Bass at 2:00, the Treble at 12:00, the Mid at 9:00, the channel volume at 3:00, the reverb at 9:00, and the gain at 11:00. Beautiful blackface Fender sounds.