Next failure is a series.
Seems to point to following src\ChangeLog
1998-11-30  Martin Buchholz  <martin(a)xemacs.org>
 XEmacs Build Report as generated
 by build-report-version $Revision: 1.53 $ follows: 
 Contents of c:\export\home\tmp\21.2\xemacs\nt\Installation:
 (Output from most recent run of ./configure)