The install directions would need to be modified for the current release of eqemu (0.4.3). They changed to a unified makefile -- there is no longer a makefileopt file. To compile you would need to do the following
cd to your eqemu directory
cd to your world source and compile it
cd to your zone source and compile it
Code:
cd ../zone
make
cd ..
At this point you could try running ./world/world and ./zone/zone per the instructions above.
==Flipper==