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Personal recipe for building GNU Emacs on MS-Windows platforms.
By Dani Moncayo.
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0. Prerequisites
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* Operating system: MS-Windows XP or higher.

  I've actually tested this on:
  - Windows XP SP3.
  - Windows 7 (32 and 64-bit).

* Development environment: MinGW (www.mingw.org).

  Once MinGW is installed, make sure that the "bin" and "msys\1.0\bin"
  subdirectories of your installation are included in your PATH
  environment variable.

  Install also the "msys-base" package:
    >> mingw-get install msys-base

  This package provides you with a set of tools needed for the build
  process.

  Update the MinGW packages:
    >> mingw-get update
    >> mingw-get upgrade

* Internet conectivity (optional).

  Needed if you don't have the (latest) source code in your machine yet.

* Version control system: Bazaar (bazaar.canonical.com) (optional).

  Needed if you want to get the latest source code directly from a bzr
  branch.

  Make sure that the top directory of your Bazaar installation is
  included in your PATH environment variable.

* Compression tool: 7-zip (http://www.7-zip.org/) (optional).

  Needed if you want to generate a binary distribution automatically.

  Make sure that the top directory of your 7-zip installation is
  included in your PATH environment variable.

* Libraries (optional).

  Emacs has some optional features that depend on some libraries.  If
  you want these features, you need Windows ports of such libraries:
  - giflib: http://gnuwin32.sourceforge.net/
  - gnutls: http://sourceforge.net/projects/ezwinports/files/
  - jpeg: http://gnuwin32.sourceforge.net/
  - libiconv: ??
  - libpng: http://gnuwin32.sourceforge.net/
  - libxml: http://sourceforge.net/projects/ezwinports/files/
  - libxpm: http://cgit.freedesktop.org/xorg/lib/libXpm
  - tiff: ??
  - zlib: http://zlib.net/


1. Get the source code tree
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If you want a released version, download the corresponding file from
the GNU project (http://ftp.gnu.org/pub/gnu/emacs/) and extract it.

If you want the latest version of a branch (e.g. "trunk"):
* If you don't still have the branch, create it:
  - Change to the directory where you want to create the branch.
  - Run: >> bzr branch bzr://bzr.savannah.gnu.org/emacs/<branch>
* If you already have the branch, update it:
  - Change to the branch directory.
  - Run: >> bzr pull


2. Run the "configure" script
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This step can be omitted if you have a previous build and some files
are unchanged (that includes makefile.w32-in files, nt/config.nt, and
nt/configure.bat itself).

Change to the "nt" subdirectory.

For building without libraries, run:
  >> configure --with-gcc --no-opt --enable-checking --without-xpm --without-png --without-jpeg --without-tiff --without-gif

For building with all the libraries, run:
  >> configure --with-gcc --no-opt --enable-checking --cflags -I../../libs/libxpm-3.5.8/include --cflags -I../../libs/libxpm-3.5.8/src --cflags -I../../libs/libpng-1.4.10 --cflags -I../../libs/zlib-1.2.6 --cflags -I../../libs/giflib-4.1.4-1/include --cflags -I../../libs/jpeg-6b-4/include --cflags -I../../libs/tiff-3.8.2-1/include --cflags -I../../libs/libxml2-2.7.8-w32-bin/include/libxml2 --cflags -I../../libs/gnutls-3.0.16/include --cflags -I../../libs/libiconv-1.14-2-mingw32-dev/include --distfiles ../../libs/libxpm-3.5.8/src/libXpm.dll

Notes:
* Change the library paths (after each -I) to suit your setup.
* Use --no-opt for an unoptimized build (needed for debugging).
* If you don't want to use some of the libraries described above,
  don't write the correspondig "-I<path>" parameters.
* If your version of GCC is 4.6.1, add this parameter:
    --cflags -fno-omit-frame-pointer


3. Run the makefile targets
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* If you have a previous build of emacs, you can take the quick way:
  >> mingw32-make
  >> cd ..\lisp
  >> mingw32-make bzr-update
  >> cd ..\nt
  >> mingw32-make
  >> mingw32-make info
  >> mingw32-make install

* Else, you'll have to bootstrap from scratch:
  >> mingw32-make bootstrap
  >> mingw32-make info
  >> mingw32-make install

For paralell buiding:
  >> mingw32-make -j 4
  >> mingw32-make -j 4 XMFLAGS="-j 4" bootstrap

The latter is for GNU Make versions < 3.82.


3. Generating a redistributable Emacs binary
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* Run the "dist" target (requires 7-zip installed and on PATH):
  >> cd nt
  >> mingw32-make dist

  
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Now you can take your binary distribution to any machine with a
MS-Windows OS.  Just uncompess the zip file in the directory you want.