Well I copied the cygwin1.dll to the as-new.exe folder to see if it would work. And it works, everything looking fine to me :)
C:\binutils-2.14\build\gas>as-new.exe -V GNU assembler version 2.14 (i686-linux) using BFD version 2.14 20030612 -- Unsubscribe info: http://cygwin.com/ml/#unsubscribe-simple Problem reports: http://cygwin.com/problems.html Documentation: http://cygwin.com/docs.html FAQ: http://cygwin.com/faq/
