Most pre-amps, some integrated amps and receivers have a "record select switch". For example, it would allow you to listen to say the tuner, while recording from the CD. No, no, the Bose equalizer should work just fine. What you might consider doing is using Deoxit (spelling?) you can get it at Walmart or Home Depot, and spray down the internals of the EQ. After it has dried, see what happens. I use this stuff on all my vintage components when I get them and never had an issue.I'm not sure what you mean by "recording from"? Also what do you mean by record function?
I am sorry you are having all these problems with the speakers.

Personally, I am not a huge fan of Bose (other than the vintage rebuilt 10.2s), but their stuff is interesting.