I compiled xgawk with the xml and gd extensions. I used gcc-4 under the experimental cygwin 1.7, and I chose to optimize for pentium II.

I compiled libgd from source, but you may use the libgd-devel package from any Cygwin mirror.
Why did I compile it? Because 
a) the standard package depends of X windows just to support the xpm bitmap format, and
b) there is a libXpm-noX-devel package that can substitute it nicely.

libgd
------------------------------------------------------------
The source for libgd is in release/X11/gd/gd-2.0.36RC1-1-src.tar.bz2 in any Cygwin mirror.

CC=gcc-4 CFLAGS="-march=pentium2 -I/usr/include/noX" LIBS=-lXpm-noX LDFLAGS=-L/usr/lib/noX ./configure --with-xpm=/usr --without-x --without-fontconfig
make

I edited the "configure" script to remove "-lX11 -lXpm" (One of this days, I need to send a patch to libgd to ask for using Xpm-nox instead of the huge X dependencies).


xgawk
------------------------------------------------------------
The source for xgawk is in http://home.vr-web.de/Juergen.Kahrs/gawk/XML/xgawk-3.1.6a-20090408.tar.gz

I added -liconv to libxml_la_LIBADD in extensions/Makefile.am
Then I run:

LC_ALL=C ./update-autotools
LC_ALL=C CC=gcc-4 CFLAGS=-march=pentium2 ./configure --disable-shared --enable-static --enable-static-extensions --disable-pgsql --disable-mpfr --disable-nls --disable-rpath
LC_ALL=C make


These are the dependencies of xgawk.exe:

ls -lrt $( cygpath -u $(cygcheck /usr/local/bin/xgawk.exe) |d2u ) |cut -c 42-
  708096 Aug  4  2004 /cygdrive/c/WINDOWS/system32/ntdll.dll
   55808 Aug  4  2004 /cygdrive/c/WINDOWS/system32/Secur32.dll
  616960 Aug  4  2004 /cygdrive/c/WINDOWS/system32/ADVAPI32.DLL
  577536 Mar  8  2007 /cygdrive/c/WINDOWS/system32/USER32.dll
  984576 Apr 16  2007 /cygdrive/c/WINDOWS/system32/KERNEL32.dll
  584192 Jul  9  2007 /cygdrive/c/WINDOWS/system32/RPCRT4.dll
  120832 May  9  2008 /usr/bin/cygexpat-1.dll
  283648 Oct 23 15:01 /cygdrive/c/WINDOWS/system32/GDI32.dll
 1000448 Jan  1 07:13 /usr/bin/cygiconv-2.dll
  440320 Jan 28 17:50 /usr/bin/cygfreetype-6.dll
   65536 Mar  2 02:34 /usr/bin/cygz.dll
  247808 Mar  7 23:39 /usr/bin/cygpng12.dll
  127488 Mar  8 04:49 /usr/bin/cygjpeg-62.dll
  161583 Mar 20 10:31 /usr/local/bin/cyggd-2.dll
   48128 Mar 24 00:42 /usr/bin/cygXpm-noX-4.dll
 2495892 Mar 31 12:06 /usr/bin/cygwin1.dll
  643584 Apr 20 12:03 /usr/local/bin/xgawk.exe

To meet these dependencies, you need to install the packages expat, libiconv2, libfreetype2-devel, zlib, libpng12-devel, libjpeg-devel, libXpm-noX-devel, cygwin.
(I'm cheating here, you just need the runtime packages, but I suggest the -devel packages to encourage you to compile xgawk by yourself)

I am shipping xgawk.exe and cyggd-2.dll.

Enjoy!