I was bored and had a half-made zone viewer thingy that was easy enough to adapt for .obj exporting.
Link
It's not complete but might tide you over for now. The biggest discrepancy is that some zones with animated objects -- chiefly swaying trees in Kunark and Velious zones -- are currently rendered in the "jumble of nonsense" positions that they are defined in rather than what they would look like on the first frame of their animation. I'll have to look at that later -- had some success with mob animations a month or two ago, hoping that animated objects will be pretty much the same.
There are some one-off oddities too, some of them possibly things that have hardcoded fixes in the client and so would also need hardcoded fixes in a viewer. For example, some bits of things in fearplane are just... not there. Specifically the mid-sections of the pillars inside the ring of fire, there's just empty space where there should clearly be
something. Never taken a super close look at that but that has stood out to me for a long while. There are also some one-off textures that are not flagged correctly to have parts masked off: have fixes for this for trees in kithikor and in highpass, there's probably others out there that'll need it.
There are also some things that EQ does that might not be expressible in .obj format. The main thing I'm thinking of is that there are a lot of places where EQ uses additive color for cheap partial transparency (pixels are opaque as they approach white, transparent as they approach black -- normally used for particles and things like that), like for semi-transparent water surfaces, rays of light coming out of skulls that decorate some zones like befallen, neon thingies in Neriak, etc. Seems like .obj expects more standard stuff like alpha transparency, which EQ does use, but not as much.
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Also, I had to disable shading in Blender to see everything nice and textured. Hit N to bring up the side menu > Shading > check "Shadeless". Also helped to increase the clipping distance in the same menu under View > Clip > End; 10000.00 is a nice number there. I still have no idea how to navigate a huge model nicely in Blender, though...
Edit: import the .obj files with -Z as FORWARD, -Y as UP.