The "not a valid Win32 program" error seems to happen more and more often lately. The problem is that for some reason the file you downloaded got corrupted and can't be used. I suggest you delete that file and download it again, but this time from one of the mirrors. The mirrors can be found here:
http://www.simtel.net/pub/dl/62787.shtml
I wonder what is causing these corruptions at Patchou's server. I have had the same problem too once and saw many on IRC with it
.