You can now freely download the embedded Visual C++ toolchain from Microsoft:
http://msdn.microsoft.com/downloads/default.asp?url=/downloads/topic.asp?URL=/msdn-files/028/000/219/topic.xml
It’s a hefty download, but the serial number is on the page and it works great.
So, I added official embedded Visual C++ projects to the SDL source.
http://www.libsdl.org/cvs.php
Read README.WinCE for details.
See ya!
-Sam Lantinga, Software Engineer, Blizzard Entertainment