Server registration isn't required unless you intend to have a green or yellow tagged server. (And private servers aren't eligible for that status.) Keep trying, and the very end of your world.exe loadout should read "Connected to loginserver eqemulator.net." If you don't see this line come up then you are not connecting.
Simplify your troubleshooting a bit and just see if you can establish a connection at all. Try to port 5998 of eqemulator.net with this command from the server computer:
Code:
C:\> telnet eqemulator.net 5998
If you connect, then you have no router problems. If you don't connect, don't bother playing with world.exe until you can get that connection working.
And I woke up the next morning to scroll back up and find the conversation with tbti. Had I been awake at that point, it wouldn't have gotten that far.