FWIW... I have been running my own local EQEMU server for years. Like everyone else I'm usually crunched for time so to save my own sanity I set up the server on a VM. With only a handful of players you don't need to allocate much in the way of resources to the VM. The benefit for me is that I version control the VM itself. If I'm upgrading the binaries or making content changes, or even just mucking around late at night, I'll back up the entire VM, make my changes and if I miss something I can just copy the old version back. This way I'm not worrying about what files I changed or what DB updates were made that need to be backed out. I just copy the most recent VM backup over the one I screwed up and I'm good to go.
Anyhow, just my 2 cents. Now I'm broke.
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