I have just completed the first build of the current php-5.2 CVS using the new compiler from Microsoft. The file is avaliable at php-5.2.1RC2-dev-Win32.zip.
Since this is the first build using the new tool set any help in testing it would be greatly appreciated.
UPDATE: Thanks for the feedback. It seems that the binary does not work without the .manifest files being built in into the executables. I'm investigating how to do this with the new compiler.