Nice guide! Still, could be improved a bit:
During MinGW installation, you may select to install MSYS, so you won't need to install second package.
(note: it's better to use "sh.exe" from MSYS instead of "cmd.exe" as a console shell for invoking the commands below; just Start->Run sh)
All packages in MinGW may be upgraded with "mingw-get", like this:
Code:
mingw-get update
mingw-get upgrade
Invoking these two commands will always bring your version of MinGW to the latest. You don't have to download upgrades and install manually.
Installing additional packages is also that simple:
Code:
mingw-get install msys-coreutils