And yeah, it's a very memorable/nostalgic sound. I've said for years that EQ's sounds- from the music, to combat sounds, spell sounds, environment sounds, etc, were a totally underrated part of what made EQ so immersive.
Also, I think that specific sound file must be a royalty-free stock sound file. Believe it or not, I heard that exact same sound file early on in the tv show Lost when they were trekking through the jungle. It was the EXACT same. I rewound it and turned it up just to make sure.