penguin is better equpped to answer that, but the short answer is no.
He had/has basic graphics functionality implemented by the time they released that. That icculus build needs GCC3.x to compile, and no special steps were taken to preserve windows functionality.
I have been following the mailing list, they seem to have windows compatibility working, meaning their client can play with the retail client, butI am not sure about compiling the windows code.
Penguin's was done with compatbility in mind, so I believe he is using that as a reference, but not actually using their code.
It also compiles under gcc 2.x and later, which was something we as a group decided was important (being somewhat unconvinced of the gcc 3.x stability). I think this compatibility was the least of the reasons not to simply use their code, but it wasa reason.