"Hopefully, at some point in the near future, Edirol/Roland will address this weakness and provide both information with regard to these five eq settings and, more importantly, the ability to implement the decibel cut WITHOUT activating ANY of those five settings."
Okay, I finally got the straight scoop on these five settings. Each one of them is active; NOT ONE is a null seting.
In addition, the gain adjust that is attached to the mic simulation menu item is NOT a gain adjustment that precedes the mike preamp in the signal path. It is placed after the preamp, after the A/D conversion, and AFTER the optional Limiter. One person, with whom I spoke after I received this information, theorized that it was most likely entirely a software gain adjustment, and not in fact a true gain adjustment at all. In any event, it's not what you need if you're looking to cut the output level of the mike BEFORE it hits the regular input volume, which means that if you're recording in an environment which is extremely loud and noisy you had better hope your mic's output level doesn't overload the R-1's preamp, because if it does there's not much you can do about it.
Fortunately, I've had a chance now to make some recordings with the R-1 and I've not experienced this problem at all. On the contrary, I was probably not generous enough with my input level, which is probably a good sign.