Ok, that doesn't sound entirely negative! That's a good start!
What do you mean about the "interaction"? In theory, these controls shouldn't interact much, but in practice it will feel like that because the mid control boosts or cuts the centre region that the tilt control also affects. Is that how it comes across? Anything else you can tell me before I get a chance to play with it? Did it make you feel that the mid peak/scoop should be lower/higher? Is the boost/cut range reasonable? Or totally way over the top?
I guess the question is: "Could you do better with only two knobs if they were somehow otherwise arranged?" You could have simple Bass and Treble knobs and leave a gap in the middle for an apparent mid-boost or mid-cut, for example. Would that be an improvement? To me, I doubt it, but I haven't played with it much yet. Or you could have a simple parametric EQ, with a frequency control and a boost/cut control, and leave it at that. That offers some different possibilities, but in some ways isn't so versatile. It's a difficult question, with no right answers I suspect.
I had an email today that the boards for this have shipped, so I might have something to report shortly...ish. Usually it takes them weeks to get through customs, but that's normal, if tiresome.