Just to add to that (above), this is what the loginserver spits out. It actually shows the world admin user and password in the console, but not sure why it's refusing to recognize the registration altogether. I've went over it many times and it all matches up between configs and DB.
Code:
[LoginServer] [Info] Config System Init
[LoginServer] [Info] MySQL Database Init
[LoginServer] [Info] Starting File Log [logs/login_5176.log]
[LoginServer] [Info] Server Manager Init
[LoginServer] [Info] Loginserver now listening on port [5998]
[LoginServer] [Info] Client Manager Init
[LoginServer] [Info] Server Started
[LoginServer] [Info] [Config] [Logging] IsTraceOn [true]
[LoginServer] [Info] [Config] [Logging] IsWorldTraceOn [false]
[LoginServer] [Info] [Config] [Logging] IsDumpInPacketsOn [false]
[LoginServer] [Info] [Config] [Logging] IsDumpOutPacketsOn [false]
[LoginServer] [Info] [Config] [Account] CanAutoCreateAccounts [true]
[LoginServer] [Info] [Config] [WorldServer] IsRejectingDuplicateServers [false]
[LoginServer] [Info] [Config] [WorldServer] IsUnregisteredAllowed [true]
[LoginServer] [Info] [Config] [Security] GetEncryptionMode [14]
[LoginServer] [Info] [Config] [Security] IsTokenLoginAllowed [false]
[LoginServer] [Info] [Config] [Security] IsPasswordLoginAllowed [true]
[LoginServer] [Info] [Config] [Security] IsUpdatingInsecurePasswords [true]
[LoginServer] [Info] New World Server connection from 127.0.0.1:55939
[LoginServer] [Info] New World Server Info | name [PEQ TEST] shortname [peqtest] remote_address [127.0.0.1] local_address [127.0.0.1] account [******] password [******] server_type [0]
[LoginServer] [Info] Server [PEQ TEST] (peqtest) is not registered but unregistered servers are allowed