I've been swinging a detector for over 40 years. I've used just about every detector on the market at one time or another. That said, Location plays a big part in the success, or failure, of good finds.
After 40+ years my body doesn't handle 12 hours of straight hunting well anymore, so I mainly hunt for gold in tot lots, schools & parks. I also can't spend my short hunting time digging everything that makes a noise. So I have spent a lot of time, and a lot on money, looking for a detector to serve me best in my conditions, and hunting style. Here are my answers.
1) What is the technology difference between a gold detector and a general purpose like the Equinox?
Generally, what most designate a "gold detector" has a few major features in common. 1. Frequency. Frequency plays an important roll in finding gold. Lower conductive metals, like gold, respond best to high frequencies. That is why most gold detectors will have a frequency in the 40 kHz to 100 kHz range. Great for gold, not so good for high conductors like coins. They like low frequencies.
2. The ability to handle ground mineralization well. Gold is often very small and not round, but odd shaped. Being hard for most general purpose detectors to see. The more precise the ground balance, the better a detector can see the small change in ground balance from very small and odd shaped targets.
2) Can an Equinox be configured to be as good as a gold detector? Why or why not?
Yes, to a point. It is not going to prospect as well as a Minelab GPX 6000, but then the GPX 6000 would kill you trying to hunt a trashy park. Right tool for the right job. There is no one tool for all jobs.
What makes the Equinox 800 so good on gold is the ability to run at 40 kHz. Not many general purpose detector can run such a high frequency.
3) What is the single most important feature to be a good gold detector?
In my opinion it is the 40 kHz ability. While Multi-IQ is cool, I believe, for gold, the 40 kHz alone is what separated the NOX 800 from the others.
4) Re: Eq800. Is there such a thing as the "best" settings for gold?
Yes, No discrimination/notch above a target segment of 0, and the 40 kHz frequency.
5) if your goal is to try and find some gold, is there any point in using an Eq800 or should one just bite the bullet and get a gold detector?
If prospecting is your plans, then I might look at a specific gold detector like the GPX 6000. If not, I feel the NOX 800 is a good as it gets on gold for a general purpose machine.
6) Which gold detector would you get if you had an Eq800 too? Or is that an irrelevant question?
Other than a dedicated gold detector if I were prospecting, I'd go with the Equinox 800. IMO, as good as it gets on gold in tot lots, schools & parks.