A BFD (or more flexibly, a DEQ2496) will do SOME of what a LT can do, but not all.
LT allows you to modify system Q, and increase low end extension (lower Fb).
E.g., you can build a sealed system, size it such that it is power-limited (e.g. volume is small enough that the power you're applying cannot bottom the driver(s)), then modify system Q to get the sound quality you want (e.g. lower Q from .8 to .5), then add extension (lower Fb from say 35hz to 20hz).
All can be done, at the same time, with a LT cct.
A DEQ2496 can give you the extension bit of it... in essence you build a wide filter centered at 300-400hz with a 10-15 db cut. This has the effect of boosting the bottom end. By upping the input, or amp output, you end up creating greater lowend extension.
The real advantage of a BFD or DEQ 2496 comes from being able to equalize your room... you'll want one JUST for that, trust me.
if you look at my sub project, you can see how I ended up using both a LT and a BFD
http://www.hometheaterforum.com/htf/...d.php?t=245726
David