These lines have issues:
7>c:\games\freespace 2\fs2_open\code\fred2\initialstatus.cpp(818): warning C4245: 'argument' : conversion from 'int' to 'DWORD_PTR', signed/unsigned mismatch
7>c:\games\freespace 2\fs2_open\code\fred2\campaigntreewnd.cpp(228): warning C4239: nonstandard extension used : 'argument' : conversion from 'CString' to 'CString &'
7> A non-const reference may only be bound to an lvalue
7>c:\games\freespace 2\fs2_open\code\fred2\asteroideditordlg.cpp(443): warning C4245: 'argument' : conversion from 'int' to 'DWORD_PTR', signed/unsigned mismatch
7> Generating Code...
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(152): error RC2135: file not found: res\help.cur
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(171): error RC2135: file not found: res\3dcheck.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(194): error RC2135: file not found: res\minifwnd.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(199): error RC2135: file not found: res\ntcheck.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(200): error RC2135: file not found: res\95check.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxprint.rc(31): error RC2135: file not found: res\magnify.cur
7>
========== Build: 6 succeeded, 1 failed, 0 up-to-date, 0 skipped ==========
So... ideas?
Feel free to tell me it's never going to work, but, if you could do me a favor and tell me why, I'd feel better.

To me it just looks like a few errors and some missing resources.
1>------ Build started: Project: liblua, Configuration: Debug Inferno SSE2 Win32 ------
2>------ Build started: Project: zlib, Configuration: Debug Inferno SSE2 Win32 ------
3>------ Build started: Project: libpng, Configuration: Debug Inferno SSE2 Win32 ------
4>------ Build started: Project: libjpeg, Configuration: Debug Inferno SSE2 Win32 ------
2> zlib.vcxproj -> C:\Games\Freespace 2\fs2_open\projects\MSVC_2010\Debug Inferno SSE2\zlib.lib
3> libpng.vcxproj -> C:\Games\Freespace 2\fs2_open\projects\MSVC_2010\Debug Inferno SSE2\libpng.lib
4> libjpeg.vcxproj -> C:\Games\Freespace 2\fs2_open\projects\MSVC_2010\Debug Inferno SSE2\libjpeg.lib
1> liblua.vcxproj -> C:\Games\Freespace 2\fs2_open\projects\MSVC_2010\Debug Inferno SSE2\liblua.lib
5>------ Build started: Project: code, Configuration: Debug Inferno SSE2 Win32 ------
5> code.vcxproj -> C:\Games\Freespace 2\fs2_open\projects\MSVC_2010\Debug Inferno SSE2\code.lib
6>------ Build started: Project: Freespace2, Configuration: Debug Inferno SSE2 Win32 ------
7>------ Build started: Project: Fred2, Configuration: Debug Inferno SSE2 Win32 ------
7> wing_editor.cpp
7> wing.cpp
7> weaponeditordlg.cpp
6> Freespace2.vcxproj -> C:\Games\Freespace 2\fs2_open\projects\MSVC_2010\Debug Inferno SSE2\fs2_open_3_6_13d_INF_SSE2.exe
6> 1 file(s) copied.
6> 1 file(s) copied.
7> waypointpathdlg.cpp
7> voiceactingmanager.cpp
7> textviewdlg.cpp
7> stdafx.cpp
7> starfieldeditor.cpp
7> soundenvironmentdlg.cpp
7> shiptexturesdlg.cpp
7> shipspecialhitpoints.cpp
7> shipspecialdamage.cpp
7> shipgoalsdlg.cpp
7> shipflagsdlg.cpp
7> shipeditordlg.cpp
7> shipclasseditordlg.cpp
7> shipchecklistbox.cpp
7> ship_select.cpp
7> shieldsysdlg.cpp
7> sexp_tree.cpp
7> Generating Code...
7> Compiling...
7> setglobalshipflags.cpp
7> restrictpaths.cpp
7> reinforcementeditordlg.cpp
7> prefsdlg.cpp
7> playerstarteditor.cpp
7> orienteditor.cpp
7> operatorargtypeselect.cpp
7> modifyvariabledlg.cpp
7> missionsave.cpp
7> missionnotesdlg.cpp
7> missiongoalsdlg.cpp
7> messageeditordlg.cpp
7> management.cpp
7> mainfrm.cpp
7> initialstatus.cpp
7>c:\games\freespace 2\fs2_open\code\fred2\initialstatus.cpp(818): warning C4245: 'argument' : conversion from 'int' to 'DWORD_PTR', signed/unsigned mismatch
7> initialships.cpp
7> ignoreordersdlg.cpp
7> grid.cpp
7> fredview.cpp
7> fredrender.cpp
7> Generating Code...
7> Compiling...
7> freddoc.cpp
7> fred.cpp
7> folderdlg.cpp
7> eventeditor.cpp
7> dumpstats.cpp
7> dialog1.cpp
7> debriefingeditordlg.cpp
7> customwingnames.cpp
7> createwingdlg.cpp
7> cmdbrief.cpp
7> campaigntreewnd.cpp
7>c:\games\freespace 2\fs2_open\code\fred2\campaigntreewnd.cpp(228): warning C4239: nonstandard extension used : 'argument' : conversion from 'CString' to 'CString &'
7> A non-const reference may only be bound to an lvalue
7> campaigntreeview.cpp
7> campaignfilelistbox.cpp
7> campaigneditordlg.cpp
7> briefingeditordlg.cpp
7> bgbitmapdlg.cpp
7> backgroundchooser.cpp
7> asteroideditordlg.cpp
7>c:\games\freespace 2\fs2_open\code\fred2\asteroideditordlg.cpp(443): warning C4245: 'argument' : conversion from 'int' to 'DWORD_PTR', signed/unsigned mismatch
7> adjustgriddlg.cpp
7> addvariabledlg.cpp
7> Generating Code...
7> Compiling...
7> FictionViewerDlg.cpp
7> AltShipClassDlg.cpp
7> Generating Code...
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(152): error RC2135: file not found: res\help.cur
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(171): error RC2135: file not found: res\3dcheck.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(194): error RC2135: file not found: res\minifwnd.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(199): error RC2135: file not found: res\ntcheck.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxres.rc(200): error RC2135: file not found: res\95check.bmp
7>
7>
7>C:\WinDDK\7600.16385.1\inc\mfc42\afxprint.rc(31): error RC2135: file not found: res\magnify.cur
7>
========== Build: 6 succeeded, 1 failed, 0 up-to-date, 0 skipped ==========
[attachment deleted by a ninja]