There were lots of issues and i was struggling to use p4exp which come in bundle with p4v setup. i Couldn't configure it properly for a long time. I searched the net couldn't find the answer. Sometimes i used to get "no workspace has been set for this connection" or unable to connect, connection failure messages, even though your p4v is working properly.
The root cause was , whatever you configure in p4v is not available for p4exp. You need to configure this manually using p4v set.
I did the following :
Open command prompt and set the following values.
c:\>p4 set P4CLIENT=<WorkSpaceName>
c:\>p4 set P4PORT=<PerfoceServerip:PortNo>
c:\>p4 set P4USER=<PerforceUserName>
Example:
c:\>p4 set P4CLIENT=vijayk_workspace
c:\>p4 set P4PORT=172.19.86.15:1999
c:\>p4 set P4USER=vijayk
You can also have p4config file.
Basically i got some help from this link:
http://maillist.perforce.com/pipermail/perforce-user/2009-September/025941.html