Having the same problem.. it doesn't seem to be  creating the new DB tables for the login info, just as a heads up 
Window results when I run it says.. :
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Using database 'eq' at localhost
Error in LoadWorldList query 'Select id, account, name, admin_id, greenname from login_worldservers where showdown=1'  Table 'eq.login_worldservers' doesn't exist
Error in ClearLSAuthChange query 'Delete from login_authchange'  Table 'eq.login_authchange' doesn't exist
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EQEmu Login Server v1.0
http://www.eqemu.net
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Timestamp: 4-9-2002 1640
Login server listening on port:5999
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I know it's 'not supported' (/duck /cringe /shiver) just tossing back what it tossed to me in case something was missed =)
So far the emu rocks though, have to say.. finally got to live out my dream as a gnome bard 

 (albeit a 200 foot tall gnome bard, but it was still fun =) ).  Kudos for all the work put into it!