Jyakum,
You are likely having the same exact problem I was, see this post:
http://www.eqemulator.net/forums/showthread.php?t=28301
I compiled the code from the non instance branch and had problems from there. After getting TortoiseSVN working better ie RTFM, I was able to browse the repository, browse in the 'instance' branch and get the binaries that are compatible with the lastest DB SVN.
Compile that, use the guide, and you should be good.
Laxa.