PEQ-65 Vs. KGC-4042A

As you said the units are almost identical. The specs are pretty close and if it were my choice I would go for the better value, that being the Power Acoustik.

You might want to look at an electronic crossover.  EQ's are good but they have limits.  The Kenwood eq cuts off the low frequency to the high pass speakers at 100hz when the subwoofers are activated.  If you have an amp on your mids and highs this could be dangerous because the frequency is low when it comes to mids and highs and could damage your speakers.  I don't know much about the Acoustik but it looks like it may not have a high-pass filter at all and this can also related to to much bass going to your mid-highs.  If you have an amp that has a built in high-pass crossover and want want to use the eq to further define your music you might want to look into an eq but other than that I would look into an electronic crossover.

well if that is the case does any one know of a good crossover that will give me the ability to turn the bass level up and down from my seat like i would be able to do with an eq

Also for the reply above i have a high pass filter on the amp that pushes my highs and it just doesnt take enogh of the low freq out which makes my mids seem muffled.  will the eq be able to help clear that up or should i just try and find a good electronic crossover as earlier suggested?

Both eq's have filters on them but I doubt that they will help to remove much bass since the kenwood's cutoff point is 100hz and there is no cut off point on the Power Acoustik.  If you are looking to turn up the bass on the subs there are a lot of crossover that have EBS's (Electronic Bass Control) built in. 

Here is just one option but there are too many to show.  http://www.coustic.com/products/processors/XM6.cfm