Ok - your machine is fast, so that's not a problem ( I asked you because my server is on a "slow" machine, and that can create problems)- did you verify that your database is up to date with the eqemu change-logs?
http://www.eqemulator.net/download.php
if you go back thru the changelogs, you'll see where you have to run SQL lines sometimes. I'm not sure how up to date the PEQ db is, but if you run one thats a repeat, no harm is done.