Hi Terry,
> The control is small 9.5 x15.5 x 8 ... Besides (or in addition to) building panel traps <
For a room that size I recommend bass traps based on rigid fiberglass rather than wood panel traps. The panel type makes more sense in a larger room where there's more wall surface. Not that panel traps won't help you, because they will. But for your room you'll get more bang for the buck with porous absorbers mounted straddling the corners.
> would there be a benefit to opening the ceiling into the space above? <
Yes, absolutely!
> Would it eliminate the need for other traps in the room <
No, because that's only one of six surfaces.
> I figure the best spot would be right above the rear wall ... I could also in addition open a hole over the monitors. <
Can you just remove the entire thing? That would be best.
--Ethan