Mine loads and works fine but i'm getting a few errors in mine too.
[Sun May 11 19:17:44 2003]00074:I Can't Open the World (WAD) File C:\Program Files\EverQuest\GlobalONT_chr.s3d.
[Sun May 11 19:17:44 2003]00075:Load of C:\Program Files\EverQuest\GlobalONT_chr.s3d unsuccessful.
[Sun May 11 19:17:44 2003]00076:Load world point 1 (Global_obj)
[Sun May 11 19:17:44 2003]00077:Load world point 3 (C:\Program Files\EverQuest\Global_obj.s3d)
[Sun May 11 19:17:44 2003]00078:Load world point 5 (2eeec00, 2f5ab10, 2f59bc0, Global_obj.wld)
Running at ATI mobility on my new laptop, XP professional. The possible major difference I see between yours and mine is the Global_obj loading. That's probably the key

. Might want to update your ATI drivers/Directx, or even rollback your ati drivers to something older if they are the brand new ones. That's about all I can think of at this point since you said you've reinstalled and patched and stuff. My buddy has the same VID card as you do and also XP pro. I'll be setting up his client tonight for EQ so if I run across the same error i'll make sure to post it and how I resolve it.