Is your eqhost.txt file set to what it says to set it to? Sounds to me that it doesn't know where to connect once you log in.
Lastly, please be sure your eqhost.txt file (located in your everquest folder) has the following in it (and ONLY this, you can edit it using notepad):
[LoginServer]
Host=login.eqemulator.net:5998
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~Zeerik~
**Human Magician**
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