Link error when compiling Qt 5.1.0 project in Visual Studio 2010

[xtal256]

After reading some similar posts, i thought i might need to build Qt. I'm looking at Installing Qt for Windows, but i'm not quite sure what options i want and where to install it to.
I already have Qt "installed" at C:\dev\Qt, where i see the following directory structure:
C:\dev\Qt
----5.1.0
--------msvc2010_opengl
------------bin
------------doc
------------examples
------------imports
------------include
------------lib
------------mkspecs
------------phrasebooks
------------plugins
------------qml
------------translations
--------src
------------qtactiveqt
------------qtbase
------------qtdeclarative
------------qtdoc
------------qtgraphicaleffects
------------qtimageformats
------------...
----Licenses
----Tools
----vcredist
----VSAddin

So if i ran "configure.exe", would i need to specify "C:\dev\Qt\5.1.0\msvc2010_opengl\" as the location, or just "C:\dev\Qt\5.1.0\" or what?
I thought i installed the pre-build package, so i don't even know if i need to run configure.

EDIT: Sorry for the crappy formatting on the directory listing, the forum collapses spaces (and turns no-break spaces into asterisks).