[sonicintuition]

Is it possible to setup mysql on a different computer than the one that is running EQEmu?

Yes, it is. You will need to do two things:

Edit db.ini so that your database will point to the IP address of the computer running MySQL, instead of "localhost". You will also need to update permissions on the computer running MySQL if you wish to edit your database from a different machine.

GRANT ALL PRIVILEGES ON *.* TO 'username'@'ipaddressyouareaccessingfrom' IDENTIFIED BY 'yourpassword' WITH GRANT OPTION;

This should work for you, it worked for me in the past. Good luck.

Regards,
SI