I've done extensive research on this ... it has to do with the Hardware TnL (Transform and Lighting). Many laptops do not support it, and I've read references to the way The Company has it coded into the client, that it is not compatible with any on board video card, nVidia 6800 series, and some ATI Series, mostly seen references to various 9000 series cards.
The only work around I have found is to use: 3D-Analyze ->
http://www.tommti-systems.de/start.html <click Files>
The trouble is, to get this program to work right, you have to run SoD seperate from the patcher, meaning patch first, close patcher, then use a batch file created script to run SoD through 3D-Analyze. You also cannot use EQWindows if you want to use 3D-Analyze.
In the end I found it to be too much of a hassle to even worry about it just for the 3D Target Ring to work. I was quite disappointed as well, since I just got a new Dell Laptop about a month ago and it has a 256 Geforce 6800 Go card in it and the darn Target Ring doesn't even work ... but again it appears it's mostly due to the way The Company has it coded.
I will continue to poke around and see if I can find a better work around, but outside of changing the client, which is not possible, I don't know how we can get a fix for it. Though I have read that some older EQLive dll's could work, the one that's the issue is EQGfx_Dx8.dll
That's the best info I can provide at this time.
Xardon