It is hard to compare EQEmu to SOE,

PEQ has everything up to POP spawned but its not 100% correct, there is thousands of quests in, but there is hundreds of thousands missing. All spells are in but not all work, AA's are in but dont all work.

If you are looking for live and an easy play time head to live.

If you are looking for a lot of work and time making something of your own EQEmu is for you.