This study evaluates how the new irradiance observations from the NASA Solar Dynamics Observatory (SDO) Extreme Ultraviolet Variability Experiment (EVE) can, with its high spectral resolution and 10 s cadence, improve the modeling of the E region. To demonstrate this a campaign combining EVE observations with that of the NSF Arecibo incoherent scatter radar (ISR) was conducted. The ISR provides E region electron density observations with high-altitude resolution, 300 m, and absolute densities using the plasma line technique. Two independent ionospheric models were used, the Utah State University Time-Dependent Ionospheric Model (TDIM) and Space Environment Corporation's Data-Driven D Region (DDDR) model. Each used the same EVE irradiance spectrum binned at 1 nm resolution from 0.1 to 106 nm. At the E region peak the modeled TDIM density is 20% lower and that of the DDDR is 6% higher than observed. These differences could correspond to a 36% lower (TDIM) and 12% higher (DDDR) production rate if the differences were entirely attributed to the solar irradiance source. The detailed profile shapes that included the E region altitude and that of the valley region were only qualitatively similar to observations. Differences on the order of a neutral-scale height were present. Neither model captured a distinct dawn to dusk tilt in the E region peak altitude. A model sensitivity study demonstrated how future improved spectral resolution of the 0.1 to 7 nm irradiance could account for some of these model shortcomings although other relevant processes are also poorly modeled.