configure -no-script -no-scripttools
nmake
Following this, I copied the qtvars.bat file from a previous installation of the binary distribution (qt-win-commercial-4.6.2-vs2008.exe) and added the line
"c:\Program Files (x86)\Microsoft Visual Studio 10.0\VC\vcvarsall.bat" amd64
or
"c:\Program Files (x86)\Microsoft Visual Studio 10.0\VC\vcvarsall.bat" x86
to support 64-bit or 32-bit compilation respectively.
Unfortunately, I have to maintain both 64-bit and 32-bit binaries so I
created two copies of the Qt source (c:\Qt\64bit\4.6.3 and
c:\Qt\32bit\4.6.3), configured, compiled, and added the qtvars.bat file.