System specs are:
2.4c at 3.2Ghz in Abit IS7 i865
2x512 Kingston Hyper X DDR400 at 2.6 Vdimm (5:4 Divider)
Sapphire 9800se 128 with 256 "L" config Samsumg chips softmodded to pro.
With this I can run the game on high quality settings at 1280 x 1024 resolution. If I turn off the AA/AF on the 9800 and it only gets choppy in a few places. The framerate is more then acceptable.
Since I hear Nvidia cards are running this game quite well I'm personally considering a 6800GT from Gainward. The X800XT is generally accepted as a better card, just not for EQ2.
My suggestion would be a Gig of the fastest RAM your system can handle,assuming a 1:1 ratio with stock FSB, and something in the 5900 series or higher 256mb card if you really want to run this game in a higher quality.
With a CPU in the 2ghz range it's the processor itself that's potentially the bottleneck, so going any higher then an X800 Pro or 6800GT would be redundant unless you really know how to make that CPU wiggle it's booty and crank out those cycles.
Buying a top of the line Alienware with 10krpm Raptor SATA and all the other goodies will definately turn your friends and family's heads, but it will also kick your wallet in the groin and then spit on it while it's down. Building a system yourself can be much cheaper and is quite a bit easier then it sounds.
It's also important to keep in mind that simple upgrades like a good sound card can make a signifigant difference as they take some of the load off of your processor. Don't forget how highly customizable this game's settings are. Try turning on high quality settings and then tweaking it a bit. Things like turning off torch shadows and lighting and lower the flora draw count. You may just find a "sweet spot" that your system likes.