If you're persistent about converting source engine models to EQ, then I can try to guide you in the right direction. But before you attempt, I'll assure you that this is going to be a VERY painful task.
First things first!
The source engine works like this. The models location and heading (x,y,z,h) are all loaded externally using libraries. Imagine it like this...
You have a terrain file with walls, floors, etc. Then, when you're loading the map... it reads an external file that tells it what models to load, what events to trigger and where to place these events and models. You can think of it like this:
Code:
coke_machine2 24.23 2572.5 -22.10 85.8
EverQuest loads zones as a whole piece. One big static mesh as if it were. This is excluding character and dynamic models such as doors, etc. So essentially what you must do is export all of the models that you need for a specific map from hammer, then figure out a way to export the brushes in hammer editor to a recognizable format by a standard modeling program such as blender.
So, let's try to categorize into sections what all needs to be done in order to convert an entire map into eq.
The Conversion Process
The hard part I think may be exporting terrain and maps for it. If your hammer zone has any sort of terrain/hills/mountains, you must find a way to export that into another format.
A good place to start is at Cannonfodder's Half-Life 2 Tools. He has some good utilities that I'm sure will be helpful to you. Check this one out.
http://www.chaosincarnate.net/cannonfodder/cftools.htm
(You may need this when you're exporting the individual models.)
So, the first step is exporting the terrain/brushes(walls, floors, etc.). After that, you must then export each model that fits into that zone (coke machines, boulders, sounds, barrels, etc.). Then, you must import these models into your scene and place them into their spot. I agree that this is a very time consuming
'shawdy' way to do it but it should work. I love projects like this and generally I am very eager to work on them but I unfortunately don't have the time. :(
Good luck, hope I could help.