Has anyone tried compiling Blender with Dev-C++? If you have tried or you have any tips on how to achive this, please let me know. (A project file would be great as well!!

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A guy with the nick nicolatesla released documentation on working Blender source with VC++ 6.0.
http://webpages.charter.net/nikolatesla20/Blenderwincompile.zip
Maybe this article will help you.After all VC++ and DevC++ arenīt that different.