OK, just for reference... this is how I setup my environment, having installed the 32-bit tools in 'c:\mingw64-w32':

Code
set PATH=c:\mingw64-w32\bin;c:\mingw64-w32\i686-w64-mingw32\bin;%PATH%
Note that there are two required paths.

A mind is like a parachute. It doesn't work unless it's open. [Frank Zappa]