One thing I have noticed on windows 7 is what Ashintar said, that protected directories won't let EQ write configuration changes to eqclient.ini. I moved my install to c:\eqemu\p99 and it works fine.
Another thing, if you /q out of the game as opposed to /camping and then exiting normally, I have noticed that things like hotbuttons are not persisted to the configuration. If moving the install doesn't help, be sure you /camp out after you play with options or macros.
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Jorg Shaman
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