Sounds like a classic case of a Dual Core CPU to me. Download a program to set the CPU affinity and set eqgame.exe to use one core and your problems will go away. The problem is that the titanium (or lesser) client doesn't properly work with dual core CPUs. Until the EQEmu team figures out how to use the most recent (SoF era) client, you will need to bind the game to only 1 core. Here is a link to the one I use
http://www.geocities.com/edgemeal_software/.