My brain is overheating just trying to read your post. There is no configuration necessary if all you want to do is run the software and play EQ, all you have to do is right click on WinEQ 2 in the system tray, go to EverQuest, and select EverQuest Default Profile.
If you choose to change the configuration, the "EQClient.ini" option provides the following description:
Custom EQClient.ini file for this profile. Do not include the full path unless you are using a file from another directory. Simply prepend the filename with .\, for example, .\eqclient.ini
The default value is .\eqclient.ini. You do not need to change this unless you want to create profiles that each have their own copy of eqclient.ini. All you have to do is change the filename, you do not need to worry about the .\ portion. For example, say you're creating a profile called "poppossum dot slash coma account name +the dot slash comaeqclient.ini arrrrrrrrg my brain is over heating"
...
the default value is:
.\eqclient.ini
Click in the box between "eqclient" and ".ini" and type something, so it looks something like
.\eqclient-popossum.ini
And again, you do not need to change a single option to use the software. The EQClient.ini setting is pretty much only useful for those who want to keep separate settings for different EQ sessions. If you don't need that, then you should just leave the option how it is.