Dave,
That is pretty interesting. I haven't tried moving my Lyric around at all. Just stuck it where the diagram said to put it (under the saddle) on the Gibson, and where it would fit (behind the bridgeplate) on my Guild. You have me intrigued enough to test some other placements.
As far as EQ:
I am not one to drag around a bunch of gear (even a preamp) to an open mic for a couple of songs. But when our duo is playing for a couple hours at the coffee house, I had been using the 3-band EQ on the PA to "pretty good" effect. More recently I have been using the Tech 21 Q-strip with my lyric enabled guitars.
It gives me a lot more control of the tone...two sweepable MID bands to play with. Mostly it is just cutting there. Low and High—I leave about flat. The Hi-pass filter is nice as well. Runs on phantom too, so no batteries. (and the red knobs are bad-***
)
I don't have a ton of experience in such things, but I think the Q-Strip sounds good. I am sure that the Baggs Venue or Para DI would work the same with the Lyric, or because the Lyric is active, you could just use an EQ pedal of some sort...if your PA set up doesn't give you enough control of the mids. Those pesky mids!!
Good luck dialing it in.