The current (5.1 and Main trunks) default nmake build
rule (the one used if you don't specify a specific
build target) is "all-dynamic" rather than "all".
(This is the first rule listed in
build/Makefiles/nmake/top.mak.) This is contrary to
the default targets built when specifying "nmake
install" (which builds the remaining static targets
prior to installation).
The attached patch makes the "all" target the default