But I'd start here first, and check out Devcpp later. From the error message I assume that the path the the compiler is not in $PATH? (which might be gone after you did the first compile with the instructions above).
Not exactly what you asked for, but have a look at this picture! It's from Ben Mathis' Website with a somewhat unsavory name :-). This website holds several models and very nice tutorials from this talented guy. All this is quite 3dsmax-centric but I think the techniques apply to Blender too.