You probably should heed the warnings about updating to Live without making a backup of your Everquest2 directory, or the client will become incompatible. And there is no way to revert back short of erasing the files and re-installing.
The good news is that the live client isn't changing much and LE usually just bumps the version after deeming it is still compatible.
From now on, back up your files before playing the live game, eh?

John is right, before updating next time, I would suggest backing up your EverQuest2.exe and some .DLL files.

They did change some structs in the last version including the login structs so it will take me a bit of time to get around to it. I'll do it after I complete looting (which is about halfway done now).
Could you guys make a list of the bugs associated with items if you have time? Since I am working heavily with items right now for looting purposes, it would make sense to fix the item problems as well.