The only time I use the EQEmuLauncher is on patch days so I can get the new files; otherwise I just click on my P99 shortcut that is on my desktop.
Follow
Step 4 (EQHost File) and Step 5 (Creating a Shortcut) on the EQEmu site. Once you do those two things you can just click the EQ shortcut on your desktop to launch Project99 and bypass the EQEmuLauncher completely.