Now, you see at the bottom of the setup.txt, it says:
[Reg]
Key=testfsdmir2
IP=
82.131.3.165
ServerAddr=
82.131.3.165
ServerPort=60320
You need to change them 2 ips to 127.0.0.1. And if that doesnt work, then change them to your IP

Then it should work.
It should work once the ips are changed to 127.0.0.1 though
Try this if you havnt already
Then when you run the server components, run them in this order:
1. RegServer
2. DBServer
3. LoginGate
4. LogSrv
5. LoginSrv
6. GameGate
7. SelGate
8.M2server
Well, really it doesnt matter what order you start the server components as long as you run the RegServer first and the M2server last

This is just the order i ran them.