I agree and disagree. Something that sounds good on an expensive system/speakers or high quality headphones, will sound equally good on a table radio with 4" speakers. Good is good. Now that said, can audio processing make a table radio with 4" speakers sound better than it would normally sound? No, but you will still have the best quality sound for whatever listening device. When it comes to setting up processing, you need to start with the best reference reception device possible, and adjust for that.
Back in the late 60's and 70's AM stations used to try and equalize the station for what they thought people were listening on. 4" speakers and being the loudest were usually the goal. That's why stations ran 50db of compression and 60db of clipping and ultra fast attack and release times, with anything below 100HZ and above 5KHZ rolled off. Fast forward to the 21st Century.. Now we compete with portable music players and headphones designed for enhanced bass and high frequency performance. Over-processing to make music that radio listeners probably hear in their un-processed form makes radio inferior sounding. Old-school thinking PD's and Engineers that think listeners believe that distorting or over-equalizing the station sounds good or plays better on certain radios, do so at their own peril.