MinGW32 (2.0.0) problems

No way... I've recently bought the Torque Engine (Hi! I'm new here), and I just can't compile it. I'm working with Windows XP, but I have no Visual C++, so I went through the forums and I saw MinGW32. It seemed easy enough!! But it doesn't work. I've been two days trying to find what's wrong, but no idea. I tried both versions 3.1.0 (the latest) and 2.0.0 of MinGW32. I also tried with Torque 1.1.2 and HEAD... nothing :'( Is it REALLY possible to compile it with MinGW32? Here's what I did:

First:
mingw32-make -f mk/configure.mk OS=WIN32 COMPILER=GCC2(or 3) BUILD=DEBUG(or release!)
well, that went fine...

Then, it should follow a simple 'make' (mingw32-make)... but here is the output

D:\Torque\torque>mingw32-make
Makefile:58: warning: overriding commands for target 'out'
Makefile:57: warning: ignoring old commands for target 'out'
targets.lpng.mk:30: warning: overriding commands for target 'out'
Makefile:58: warning: ignoring old commands for target 'out'
targets.zlib.mk:27: warning: overriding commands for target 'out'
targets.lpng.mk:30: warning: ignoring old commands for target 'out'
targets.ljpeg.mk:62: warning: overriding commands for target 'out'
targets.zlib.mk:27: warning: ignoring old commands for target 'out'
targets.lungif.mk:18: warning: overriding commands for target 'out'
targets.ljpeg.mk:62: warning: ignoring old commands for target 'out'
../mk/conf.common.mk:16: warning: overriding commands for target 'out'
targets.lungif.mk:18: warning: ignoring old commands for target 'out'
../mk/conf.common.mk:19: warning: overriding commands for target 'out'
../mk/conf.common.mk:16: warning: ignoring old commands for target 'out'
../mk/conf.common.mk:22: warning: overriding commands for target 'out'
../mk/conf.common.mk:19: warning: ignoring old commands for target 'out'
../mk/conf.common.mk:25: warning: overriding commands for target 'out'
../mk/conf.common.mk:22: warning: ignoring old commands for target 'out'
../mk/conf.common.mk:30: warning: overriding commands for target 'out'
../mk/conf.common.mk:25: warning: ignoring old commands for target 'out'
../mk/conf.common.mk:29: target 'out' given more than once in the same rule.
../mk/conf.common.mk:29: target 'out' given more than once in the same rule.
../mk/conf.common.mk:29: target 'out' given more than once in the same rule.
../mk/conf.common.mk:29: target 'out' given more than once in the same rule.
mingw32-make[1]: *** No rule to make target '%.rc', needed by 'out'. Stop.
mingw32-make: *** [default] Error 2

ARGH! I've even get DIFFERENT errors depending on what I've done before... HELP!!! :D