Any time you add gain to any any frequency, you're going to also add noise. It's just the nature of the beast. So to address reviews complaining about added noise, I doubt you'll find anything better in a pedal format under $100.
That aside, this EQ is as good as they get. As a guitar player I've been using EQ's for decades to shape my guitar tone bother before and after distortion, and this is about as good as pedal EQs get, in my opinion. I've had stereo 20-band rackmounts and all that, and they have their place in major audio, but not guitar. Guitar players need quick access to the key frequencies, and this pedal delivers the sound, plus it has easily readable LED's.
Like I said, I've used a lot of EQs for guitar, and this one is excellent. There is only one that surpasses it, and it's no longer in production: it's the Scholz Rockman EQ (whatever model number that is). The Rockman EQ has unique frequencies custom-tailored for guitar. But outside that, there's the MXR 6 Band Graphic EQ Pedal... and it truly shines!!!