I've downloaded PAR from http://par.perl.org/wiki/Main_Page and compiled it after reading the README file. I've used dmake-4.12-20090907 instead of nmake ('cause 1.5 does not work) from http://search.cpan.org/dist/dmake/. No problems during the installing proccess (repeating the install proccess doesn't help farther, no warnings, just less text output), but there is no pp.exe or something similar.
I'm using Windows XP, all compilations were done on the c drive. perl -v "This is perl 5, version 12, subversion 2 (v5.12.2) built for MSWin32-x86-multi-thread"
Check for the binary 'pp' under the location Perl\site\bin