Post the current build log?
And, are you wanting to build an wxWidgets shared/DLL or a static library?
Because, what you have posted conflicts with each other.
Edit from build/msw/config.gcc
# Type of compiled binaries [debug,release]
BUILD ?= debug
# Should debugging info be included in the executables? The default value
# "default" means that debug info will be included if BUILD=debug
# and not included if BUILD=release. [0,1,default]
DEBUG_INFO ?= default
# Value of wxDEBUG_LEVEL. The default value is the same as 1 and means that all
# but expensive assert checks are enabled, use 0 to completely remove debugging
# code. [0,1,default]
DEBUG_FLAG ?= 1
Edit2: To have the most debug information I think you need to use "DEBUG_FLAG=2" when building wxWidgets.
Edit3: See wx/debug.h for more information
Tim S.