Hi,
I just went through the owner's manual for your amplifier and regret to say the only way for you to connect an EQ is through the source. This means the analog RC cables from the Blu Ray player will go IN to the EQ and from the EQ the out cables will go to one of the Source / Inputs of the amplifier.
I went hunting for C 803s Jamo Towers on the net to understand what you have, could not find them except for Bookshelf speakers. Your amplifier is rated continuous power of 90w RMS per channel @ 8 ohms and 120w RMS @ 4 ohms. The question is does Jamo speakers which is typically 6 ohms really match and work well with such an amplifier? Perhaps you need to explore and change the speakers to get something which is either 4 or 8 ohms to give you the required performance.
Coming to Blu Ray, which brand or player are you using? Remember not all Blu Ray players have good video or audio cards in them and only a handful perform exceptionally. I use the Pioneer BDP LX 55 through HDMI and it rocks. The same performance also through analog cables and coaxle. The best blu ray is ofcourse the OPPO. Cambridge Audio also has some nice players. These are expensive for now and the LX 55 does the same job as OPPO.
MP3 are compressed audio files which can be anything from 64kbps (Cheap radio files) to 320kbps. My advice, ensure your MP3 song files are nothing less than atleast 160kbps. Higher the quality, better sound and yes it will utilise more space on pendrives / hard disks.
The most important aspect is the speaker wiring and gauge. You need to ensure Oxygen Free Cable (OFC) is used and for Towers depending on the distance, I feel AWG 18 or AWG 16 would suffice if speakers are placed within 2 odd meters of the amplifier. Further the distance thicker the wires. (18 is less thicker and 16 or 14 is more thicker)
In my school / college days I owned an Arphi amplifier, the best stereo at that point in time with equaliser. The company shut done and then later we saw DOME being sold. I traded up to a 6.1 Home Theatre Yamaha receiver RX V440 in early 2000s where we saw stereo amps practically dying away and AVRs coming in. I took a good 2 months to decide which AVR performed best for music and movies..purchased a Yamaha EQ 550 to enhance the sound and punch. I used P Audio cubes (HT 200...look almost like BOSE Jewel Cubes), a custom made passive subwoofer and Bose 201s III bookshelf speakers. The setup was crazy but having a flair for music and technicals, I did an impressive setup. Neighbour's envy owners pride.
With HDMI coming in I traded up for a Pioneer AVR in 2012 and JBL SCS 140 5.1 speakers. I sold the Yamaha EQ to my best friend who is using it with his Yamaha AX 592 through the pre coupler (Pre Out / Main In) connected to Bose 301s II and he is having a ball. The Yamaha AVR + P Audio + Passive sub is gifted to my Brother in law...somehow I still have a sentimental value to the system and hence still enjoy the music / movies whenever I visit my inlaws.
The Pioneer did perform well but lacked the overall depth and punch I have heard for years. There are no decent EQs available today. Second hand ones are models which are more than 15-20 years old. Finally Marantz NR1402 was the answer. A neat slim receiver with all the latest features one would want in any AVR. Although being 50w per channel, it outperforms its bulky competitors. Audyssey calibration for auto setup for speakers which measures room acoustics and speaker dynamics and makes the optimal settings. There is Bass + Treble control. The most important besides the various Listening Music + Movie + Game modes, it has 9 band adjustable graphic equaliser for each channel.
I got rid of the Pioneer AVR, got a Marantz NR 1601 7.1 connected to the JBL SCS 140 5.1 + assigned the surround rear channels as B speakers and connected the Bose 201s III. The combo is perfect. Marantz is known for making amplifiers / AVRs which cater to music first and it really brings out the warmth and depth in any kind of music you hear..ofcourse the CD / DVD / MP3 etc needs to be of proper quality and the cables matter.
I use Marantz NR 1402 with Boston Acoustics Soundware XS 5.1 speakers where I stay. With my experience, I adjusted the 9 Band Eq for each channel and achieved what I wanted. Today the NR 1402 is not available but NR 1504 with AirPlay is available. Same performance. You can easily connect Bookshelf or floor standers. I did a good 2/3 months review before putting my money down for this setup. There are a lot of videos on You Tube or read Cnet reviews. The Bostons are better than BOSE cubes and give you true value for money not forgetting the unmatched performance.
Finally I would advise you to perhaps check the cables, if connecting a EQ make sure that you have a good branded one...this needs to be adjusted carefully.you may want to perhaps connect a powered sub woofer using a Y RC cable from Pre Out. The best subwoofer is Velodyne..check Impact 12 or 10. B&W CM 5 series are the best speakers to match on a Marantz..this I will own soon...budgets an issue at this point.
You may want to check HiFi Mart for good deals or you may want to consider to change your setup. Hope this helps you in making the right choice.