The most likely problem is that you don't have your config file, eqemu_config.xml in the same directory as world.exe, zone.exe etc.
Make sure it isn't called eqemu_config.xml.txt or something like that.
Enable the display of file extensions in Windows Explorer (it's under the Organise/Folder and Search Options/View in Vista ... I don't remember off hand how to get to it in XP), or alternatively, launch a command prompt, CD to wherever your world.exe/zone.exe are and do:
Code:
C:\eqemu>dir eqemu_config*
Volume in drive C has no label.
Volume Serial Number is DA34-F279
Directory of C:\eqemu
06/06/2009 14:25 901 eqemu_config.xml
If your eqemu_config.xml is named correctly, and is located in the same directory as your world and zone executables, then post your eqemu_config.xml, as there may be a problem with it's contents.