yeah initially tried with Qt5 only (failed for not invalid plugin), but after failure i tried with 4.8.1 this time not able to compile fully may be the different version.
But yes i have compiled with:
Windows 7, 32 bit
Visual Express 2010 (and installed VS2010 SP1)
VC2010 compiler patch (VC-Compiler-KB2519277) after installing VS2010 sp1
Windows SDK 7.1 (and using SDK 7.1 command Prompt)
Qt 5 Beta1 (MSVC2010)