I'm fairly suprised that they don't appear to digitally sign the resource files and exe files for eqlive and have the client check the signatures on startup. It's obviously not foolproof when the software is running on a potential cheat's own computer but it's really easy and would be a very good anti-cheating measure.
OpenEQ will suffer from that even more I suspect as being open source it will be a lot easier to cheat, and frankly a lot of the potential players are exactly the people I would expect to try to cheat
Probably needs some thinking about.