heh, I keep replying to my own posts
anyway......
Their are two eqgfx.dx*.dll files in your EQ directory. One is eqgfx.dx7.dll, and one is eqgfx.dx8.dll. Not sure what these mean, but had a hunch that it had to do with the DirectX version you had on your machine, could be wrong, just a hunch
And if this is the case, perhaps it has something to do with the version. I have Direct X9.0 at the moment (the latest as far as I know) it dosnt make sense that this would effect it in a negative way, but I'm just trying to throw out something that might point to a solution.