OK, first of all:
In Code::Blocks, go to the settings menu, then choose "Compiler". There's a tab saying "Other".
Under that there's a label: "Compiler logging:". Click on it and select "Full command line".
Now, click on "OK" and Rebuild the program (Ctrl-F11). Paste here the compiler's log (it's in the message pane, under the tab "Compiler" (note to self: Change the name to "Compiler log" for next version).
Also, please give us the full pathname of the program you're trying to run (there are some caveats in MSVC compiing, like non-installed libraries, etc... we're currently working on it).
Finally, what program are you trying to compile? An imported workspace/project from MSVC? A "new project" from template?
Then we can see what's going on. Oh, if you have a MSN account, i'm also available via MSN chat.