It's true the public setup is the easiest IF, you plan to always use eqemulator.net as your proxy and you always plan to have internet access in your home. I came back after a few years break and there is no current walkthrough that uses up-to-data server code and new eqemuloginserver files. Most are a year or more old and there have been several changes since.
Even then I still had to sort through about 4 different walkthroughs to get it going but
http://www.eqemulator.org/forums/showthread.php?t=32980
seemed to be the best as long as you follow it exactly and use those versions of perl and mysql listed, else you get a fail on compiling new server source.
It's a good link to follow also if you don't plan on installing C++ 2008 or compiling your own build and just skip those steps and download newest build on the compiled binaries link on the left side of home page.
In summary, if you don't plan on learning to use navicat lite to manage your accounts and give gm access to any of your toons and you plan on playing strictly legit, then no reason to use eqemuloginserver at all.