Thank you all guys,
your answers help me a lot!
Definitely not taken as granted - Both positive and negative ones!
For the one that asked,
I do wish to know the basics before I go for more advanced approaches, that's why I insist on the analog way.
After all, in the future, I want it to be more than a hobby,
so I must learn as much as possible - from any point of view, both old and new.
So long as your performance expectations are within reason, MFB filters work fine for this application so long as you don't go too high in Q - anything higher than 10 and the filter characteristics (passband gain, center frequency, etc) become too dependant on component tolerances.
I did a 21 band (half octave - f*SQRT[2]) analyser with MFB filters. To get a decent overall filter slope and separation between bands I used two cascaded MFB filters per band (42 filters in total), based on quad op-amps. I can't remember what Q I used and aren't in a position to look it up right now, but I'm pretty sure it wasn't very high and I aimed for a overall response ripple over the 20 Hz - 20 kHz spectrum of 6dB or less.
I did saw your project in the past, its unbelievably inspiring - In fact it was one of my motivators,
quite surprising that I see you respond here, hands down - big honor!

1. So in fact you did used 2 filters for each band to get a bigger bandwidth for each sampled frequency?
2. My sampled frequencies been chosen arbitrarily by me, of-course in a way that there is no over lap between the bands.
I just don't see a point to follow some harmonic law, while I can choose them by myself while maintaining an about equal separation between each one.
Is there something wrong with this approach?
3. In my calculations, I've did a gain of 2 in each band.
Means, I assume that the aux 'line level' that comes from initial noise filter (Lowpass Filter below about 20~21KHz) input circuit is measured beween ~0.5-1.5 volts,
thus, I've set each filter to amplify the wave at each band by 2, for more spacious voltage stages distribution at the led matrix.
In other words, I've set the output of each filter band for about 6db instead 0db.
Does my assumptions are right?
Again, Thanks

Any answer, from any member on the forum will be greatly appreciated.