Are there any tools to simulate/gauge DPS?

[Reiker]

Google GamParse. It's an EQ log parser that will tell you your dps. You just need to /log on and point GamParse to your log file (in the Log folder of your EQ install).

Be mindful that GamParse is currently configured for current live EQ. It won't parse if you do less than 10,000 damage or something like that, which obviously you won't be doing on P99. So make sure you go into the options and tweak some of the settings, especially that one, or your fights won't parse.