The patcher is kindof wierd. Things that can help fix the problem are:
Did you follow
these instructions and install mdac_type.exe
Did you actually run mdac_type.exe or just download it?
The patch server is geting LOTS of trafic, try agin later.
ping.exe foreverhacking.net
tracert.exe foreverhacking.net
The contents of patcher.log
The contents of patchedtemp if it exists AND seems to be text
Is patcher.exe in the same dir as eqgame.exe like it should be?
If patcher.log says you downloaded a file ANY file, then my guess is either heavy net trafic, or not installing mdac_typ is the problem.
Also here is a
MDAC checker util from MS