Are you trying via a direct connect or via Gamespy ?
if your doing a direct connect then there could be a problem with your Direct Connect settings.
When connecting via gamespy is the Undermountain Server listed ?
The other thing to check is because the patch changes some setting in NWN.exe you may need to check your firewall ( if you have one ) to make sure that file can go through the firewall to connect to the gamespy servers.
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