Could you provide the output of 'perl -V' and tell us which compiler you're using. I hope you aren't using that free command line version of Visual Studio 7 that Microsoft have made available ... or that if you are using that compiler, then you have built your perl using that compiler.
Sorry - when I go back and look at your original post, it seems you are using that free compiler. (I would still like to see 'perl -V', however.) Could the problem be with nmake v1.50 ? I think there should be a more recent version of nmake that came with one of the other packages that you downloaded. If so maybe give it a try instead.