Quoted from the Manley Massive Passive EQ manual talking about “phase shift”:
“This is probably the most misunderstood term floating about in the mixing community. Lots of people blame or name phase shift for just about any audio problem that doesn’t sound like typical distortion. We ask that you try to approach this subject with an open mind and forget what you may have heard about phase for now. This is not to be confused with “time alignment” as used in speakers, or the “phase” buttons on the console and multi-mic problems.”
I couldn’t agree more as already shown in the brief article on about audio signal coloration.
Variety Of Sound 
Great quote. Honored to have EveAnna and Dave both friend req me on Facebook. 🙂 100% authentic tube FREAKS.
I use phase shift from EQ daily to accomplish things that would otherwise take more drastic changes in some ways. Proper use of phase shifting can improve the way a track translates across playback systems.