The version you get if you download it from Steam today is 'Rain of Fear, which EQEmu is currently developing support for:
http://www.eqemulator.org/forums/showthread.php?t=36104
There will be very few servers that will allow you to log in with it at the moment until development is complete.
I believe it may be enabled on PEQ and Stormhaven, and any server that has 'RoF' in the name on the server list.