I was getting the same thing...seen in another post to create the emueq account..
cmd
cd to eq directory
world.exe adduser eqemu eqemu 200
..the post is somewhere on the forum, cant recall where as I just used search and it came up. Anyway, that solved my 1017 error, which was also giving me that bad user/pass eqemu...give er a shot
Edit:
Followed the link provided above, that is the one :b