LINK : fatal error LNK1117: syntax error in option 'opt:NOWIN98'
NMAKE : fatal error U1077: '"C:\Program Files (x86)\Microsoft Visual Studio 12.0\VC\BIN\link.EXE"' : return code '0x45d'
Stop.
Removing the option /opt:NOWIN98 from Makefile.MSVC fixes the issue.
c:>nmake
Microsoft (R) Program Maintenance Utility Version 12.00.21005.1
Copyright (C) Microsoft Corporation. All rights reserved.
I would suggest to use the vc9_lame.sln file from vc_solution folder, as Makefile.MSVC was written with VC6 in mind (compiler switches etc). But I will remove that option from Makefile too.
Diff: