It sounds like that may be what is going on.
To be sure, you can run a program like wireshark to sniff the packets when you attempt to connect to the login server. You should see a connection to the IP 72.55.164.91. Which is the IP address that should be in your eqhosts.ini file.
If not, you are hitting their server.
However, if the eqhosts lists a different IP address than the IP address the game is connecting to, then I'm not sure what you can do other than to reinstall the game and cross your fingers. sorry.