Run FOConfig.exe and it will generate a new file for you.
Edit:
If that doesn't help, here's how my file looks like:
[Game Options]
Language = engl
WinNotify = True
SoundNotify = False
InvertMessBox = False
Logging = True
LoggingTime = True
FixedFPS = 50
ScrollDelay = 10
ScrollStep = 28
TextDelay = 3000
LangChange = 0
AlwaysRun = True
RemoteHost = play.fonline-reloaded.net
RemotePort = 2238
ProxyType = 0
ProxyHost = localhost
ProxyPort = 8080
ProxyUser =
ProxyPass =
ScreenWidth = 1280
ScreenHeight = 1024
Light = 20
FlushValue = 100
BaseTexture = 1024
FullScreen = False
VSync = False
AlwaysOnTop = False
Animation3dSmoothTime = 250
Animation3dFPS = 0
MusicVolume = 41
SoundVolume = 41
DefaultCombatMode = 2
IndicatorType = 2
CombatMessagesType = 0
DamageHitDelay = 3000
Multisampling = -1