Try using my eqclient.ini - it has most everything turned off, that can be turned off. if it works, start to turn stuff on a little at a time, until you reproduce your problem.
Rename your original eqclient.ini to eqclient.ini.org or something so you can salvage it if you need it back.
http://www.nahunta.org/~angelox/file...ent.ini.tar.gz
EDIT;
This ini is set to 16bit color mode, so set your desktop to the same (for now)