I downloaded zip.zip (nice descriptive name eh?) from edin's site. Deleted my current win32build directory - unzipped that monster, took the php_build, dropped it where win32build was and renamed it (hey, took me a long time to get all the include/bin/lib dirs right) and headed back to the command line.
Three configuration commands later, the latest version in the PHP 5 series was up and working on her Windows machine. If you are seeing similar problems to what she was, give this download a shot and see what it helps.