Speaking of clients, I was just thinking that (and don't hate me for saying this) Tyen might not have had the worst idea in the world to try and get an EverQuest client recreated.
If the goal is to keep classic EQ alive, then the next step is to recreate the client after the server is done. The final step would be to find artists to create public domain models/animations/sounds. This is a tall order of course, but consider the possibilities:
A modern client using modern middleware solutions would eliminate any hoops people would have to jump through to get the game running (beyond copying the world assets if those were not recreated), and provide a much better experience for the players overall. Any client bugs would be easily fixed, and the server would no longer have to conform to what a static client released 12 years ago wants.
Using something like Unity or Hero engine would give you instant world building tools for custom content. I would prefer an MIT licensed client using something like Ogre3D however, but that would require custom tools be made. Using 100% open source, freely licensed code ensures that the game survives when platforms do not, as porting the game becomes trivial.
A full high fantasy asset library for MMORPGs licensed under CC BY is sort of a holy grail for me and would be the best thing to happen to MMOGs since the conversion from text based MUDs to immersive 3D worlds. Your server/game could completely copy EQ's gameplay, but be 100% immune from any and all legal threats. You could charge money for your server and use it to make it better if not outright make a business out of it. (obviously you'd have to rename things)
Make the server, client, and assets all public domain and what you'll see is something like what MUDs have in that any joe can just download the game and build his own custom version of it based off of an already fully functioning game; with the best ideas winning the most users, and a flavor of the game for every taste. Allowing commercial use would dramatically increase proliferation and the quality of derivative games.
The problem with open sourcing games is that games are extremely subjective. When developing other kinds of software, the best solution is generally obvious and there is not much issue when selecting which solution is chosen to solve a problem. Games, (at least the gameplay components) are not like this at all. An open source classic EverQuest clone provides the template game everybody can agree on, as well as an end-point as MMORPGs are never truly 'complete'.
This would immortalize EQ far more than anything else that could be done.