Well, they are modeled after equipment that is already out there and is VERY well liked by a lot of engineers. Once again, I am not trying to compare them to the real ones, but having used the software versions, they are pretty darned cool. These EQ's are not meant to be used where you would normally 1/3 octave graphic EQ. There intended for a completely different purpose and are typically used on a channel or a group. As far as the selcted frequencies goes. Did you notice that they seem to have about 1/3 as many frequency options as a standard graphic EQ? Have you ever noticed that standard graphs (often referred to as 1/3 octave EQ's) have 3 frequency points that cover one octave? Lets do some math.....
The URS has 1/3 as many frequency points so we will roughly divide 30 by 3. Now we have 10. Coincidentally, the URS graphs have 10.
Now, since a standard 31 band has 3 points per octave and the URS has 1/3 as many points, we will multiply 3 times 1/3. That gives us 1. Coincidentally 1 octave is the step between each of the URS graphic frequencies