just use the launcher
http://moestaverne.com/eqemulauncher122.zip make sure you rightclick the launcher and run it as admin ... or even better right click => properties => compatibility and check always run as admin for it, it will autopatch your EQ for p99 and red99 alike ...
http://www.youtube.com/watch?v=tOxyLIKI4N4 here is a tutorial movie on how to setup and use the launcher, you can ignore the second part of the video where he starts to talk about akkas funhouse server