Comment 1 for bug 903709

Because of the way mingw works, printed messages are lost from the sub-programs. To diagnose this, open a command window and type (assuming you've also installed the gschem/gaf package):

  gnetlist -g pcbfwd whatever.sch > junk.txt

Then, junk.txt should have the messages. It's likely you'll need to either (1) set one or more environment variables related to guile, or (2) create zero-length config files as needed to aovid a file-detection bug in that version of libgeda. See http://www.delorie.com/pcb/geda-windows/ for some more installation notes.