The installer uses precompiled binaries, both for normal and bot-enabled servers.
I'm not sure how old the 'normal' binaries are..but, I know the bot-enabled ones need to be updated.
I'm in the middle of working on some bot-related stuffs and, when I finish, I'll see about updating those binaries for the installer.
You can also setup locally to compile your own binaries. Just follow the cmake, visual studio and git instructions found in the setup guide:
http://wiki.eqemulator.org/p?Complet...Guide&frm=Main
The rest of the server (mysql, perl, etc...) is already setup from the installer..as is the server directory structure.