Yes, you can set up your own server, on your computer, and your client (read the game), will connect to YOUR server on your own machine, if you choose, or you can create a server, that people on EqEmu community can play on it. You can also (if you dont want to set up your own server), simply make a couple of changes, and play on the servers here in the EqEmu community. There are some very good ones out there... There are at least 5 or 6 that are always up.. Look at the server comments forum to get a pretty good list of some of the bigger ones up and running.. Most of THOSE have full content, quests, and items... Most, also are different than eqlive, to make the game fresh and fun again.. G'luck and have fun. If you have any errors when trying to play or set up your server see this url, as it has most common errors (pretty good guide too) written by ... erm ... ME <smile>
http://www.eqemulator.net/forums/viewtopic.php?t=12827