You are still going to want to do all the eq and compression in the box. The Mackie eq is pretty useless and you probably don't have enough channels of outboard compression to insert.
Also, that mixer doesn't have inserts on the groups, which makes them useless.
For curiosity's sake, it could be fun. But the reality is, that mackie is a live mixer, not even a good one. A studio board would tend to have more eq and routing capabilities, but you would also need to have racks of outboard gear to take advantage of it.