Another note about ZONE.EXE!
Do NOT run server until you have a game database fully prepared!!!
This means you should have imported db.sql (which comes with distribution) AND world data MUST be installed too (you will not be able to play without it anyway)
Check this
http://forums.eqemu.net/viewtopic.php?t=6176 link for world databases and how to install them.
Still it IS possible to run server without it, but you'll have to patch sources as was described above.