This only started after the update to 1.7.4
Each time I try to log in it fails, the first instance in a set of log in attempts the world will half load and my character can move about but all of my equipment is gone and I cannot open chests. I also can't open any command prompts or see written text. Apparently my character appears to other players in the world but doesn't move.
The rest of the time I attempt to log in the world doesn't load and my character falls through blackness where all you can see is sky until hitting some kind of floor.

The other user of the server now cannot log in.