Question:In your opinion Is Traffic Equalizer beneficial or detrimental to search engine Rank?

 
Answer:
I really do not recommend their use.  Any tool that takes a list of keywords and builds pages without your intervention is a bad thing in my opinion.  Have you ever searched at Google for something and visited a page that you thought was a good match only to see hundreds of links on the page?  It is something that really annoys the average surfer, and Google. 
If you read Phil Wileys forum (http://www.ozemedia.com/forum) you will see lots of posts there about Traffic Equalizer and sites being dropped or banned.      However, as with any tool, it is the user that causes the problem and not the tool.  It is just that most people that get their hands on TE dont want to make the effort in creating quality pages (which is why they bought TE - instant web sites with thousands of pages) so just use defaults and generate thousands of pages in minutes.    Google wont like it! 
My advice is always this:  If you do something that makes you nervous, dont do it.
Or, to put that another way, if you would not show your site to a Google Representative, you are not adding quality to the internet and therefore your site may not survive algorithm changes.