My only experience with an equalizer/ distribution hitch was this:
A friend was betting me he could tow my 580 CASE BACKHOE on his trailer with his GMC pickup that had an equalizer. We loaded it and it looked pretty level, I was impressed and thought maybe it would work. When we hit the first 30+ mph curve, the front wheels understeered so bad we went off the road into a field. Luckily we didn't hurt anything, I unloaded the tractor, pulled the truck out of the mud and DROVE the backhoe home.
My opinion is they give a false sense of load balancing, but the physics don't really change.