The Generatorrunner.exe process failes when building against Qt 4.8 RC1, with
error:
[  3%] Running generator for QtCore...
NMAKE : fatal error U1077:
'c:\Downloads\setuptools\install-py2.6-qt4.8.0\bin\generatorrunner.EXE' :
return code '0xc0000005'

Build log:

Configuring PySide in c:\Downloads\setuptools\modules\PySide\build...
-- The C compiler identification is MSVC
-- The CXX compiler identification is MSVC
-- Check for CL compiler version
-- Check for CL compiler version - 1500
-- Check if this is a free VC compiler
-- Check if this is a free VC compiler - no
-- Check for working C compiler: c:/Program Files (x86)/Microsoft Visual Studio
9.0/VC/bin/cl.exe
-- Check for working C compiler: c:/Program Files (x86)/Microsoft Visual Studio
9.0/VC/bin/cl.exe -- works
-- Detecting C compiler ABI info
-- Detecting C compiler ABI info - done
-- Check for working CXX compiler: c:/Program Files (x86)/Microsoft Visual
Studio 9.0/VC/bin/cl.exe
-- Check for working CXX compiler: c:/Program Files (x86)/Microsoft Visual
Studio 9.0/VC/bin/cl.exe -- works
-- Detecting CXX compiler ABI info
-- Detecting CXX compiler ABI info - done
-- Using default python: -python2.6
-- libshiboken built for Release
-- Looking for Q_WS_X11
-- Looking for Q_WS_X11 - not found.
-- Looking for Q_WS_WIN
-- Looking for Q_WS_WIN - found
-- Looking for Q_WS_QWS
-- Looking for Q_WS_QWS - not found.
-- Looking for Q_WS_MAC
-- Looking for Q_WS_MAC - not found.
-- Found Qt-Version 4.8.0 (using c:/Qt/4.8.0/bin/qmake.exe)
-- Detected OS: win
-- PySide will be generated avoiding the protected hack!
-- Checking for QAbstractPageSetupDialog in QtGui -- found
-- Checking for QAbstractPrintDialog in QtGui -- found
-- Checking for QGtkStyle in QtGui -- not found
-- Checking for QPageSetupDialog in QtGui -- found
-- Checking for QPrintDialog in QtGui -- found
-- Checking for QPrintEngine in QtGui -- found
-- Checking for QPrintPreviewDialog in QtGui -- found
-- Checking for QPrintPreviewWidget in QtGui -- found
-- Checking for QPrinter in QtGui -- found
-- Checking for QPrinterInfo in QtGui -- found
-- Checking for QSessionManager in QtGui -- found
-- Checking for QSizeGrip in QtGui -- found
-- Checking for QSystemTrayIcon in QtGui -- found
-- Checking for QMacStyle in QtGui -- not found
-- Checking for QSslCertificate in QtNetwork -- found
-- Checking for QSslCipher in QtNetwork -- found
-- Checking for QSslConfiguration in QtNetwork -- found
-- Checking for QSslError in QtNetwork -- found
-- Checking for QSslKey in QtNetwork -- found
-- Checking for QSslSocket in QtNetwork -- found
-- Checking for VideoCaptureDevice in phonon -- not found
-- QT_SRC_DIR variable not set or graphviz not found, apidoc generation targets
disabled.
-- Configuring done
-- Generating done
-- Build files have been written to:
C:/Downloads/setuptools/modules/PySide/build
Compiling PySide...

Microsoft (R) Program Maintenance Utility Version 9.00.30729.01
Copyright (C) Microsoft Corporation.  All rights reserved.

[  0%] Generating moc_destroylistener.cxx
Scanning dependencies of target pyside
[  0%] Building CXX object
libpyside/CMakeFiles/pyside.dir/dynamicqmetaobject.cpp.obj
dynamicqmetaobject.cpp
[  0%] Building CXX object
libpyside/CMakeFiles/pyside.dir/destroylistener.cpp.obj
destroylistener.cpp
[  0%] Building CXX object
libpyside/CMakeFiles/pyside.dir/signalmanager.cpp.obj
signalmanager.cpp
[  0%] Building CXX object
libpyside/CMakeFiles/pyside.dir/globalreceiver.cpp.obj
globalreceiver.cpp
[  0%] Building CXX object
libpyside/CMakeFiles/pyside.dir/globalreceiverv2.cpp.obj
globalreceiverv2.cpp
[  1%] Building CXX object
libpyside/CMakeFiles/pyside.dir/pysideclassinfo.cpp.obj
pysideclassinfo.cpp
[  1%] Building CXX object
libpyside/CMakeFiles/pyside.dir/pysidemetafunction.cpp.obj
pysidemetafunction.cpp
[  1%] Building CXX object libpyside/CMakeFiles/pyside.dir/pysidesignal.cpp.obj
pysidesignal.cpp
[  1%] Building CXX object libpyside/CMakeFiles/pyside.dir/pysideslot.cpp.obj
pysideslot.cpp
[  1%] Building CXX object
libpyside/CMakeFiles/pyside.dir/pysideproperty.cpp.obj
pysideproperty.cpp
[  1%] Building CXX object libpyside/CMakeFiles/pyside.dir/pysideqflags.cpp.obj
pysideqflags.cpp
[  1%] Building CXX object
libpyside/CMakeFiles/pyside.dir/pysideweakref.cpp.obj
pysideweakref.cpp
[  1%] Building CXX object libpyside/CMakeFiles/pyside.dir/pyside.cpp.obj
pyside.cpp
[  2%] Building CXX object
libpyside/CMakeFiles/pyside.dir/moc_destroylistener.cxx.obj
moc_destroylistener.cxx
Linking CXX shared library pyside-python2.6.dll
   Creating library pyside-python2.6.lib and object pyside-python2.6.exp
[  2%] Built target pyside
[  2%] Generating moc_customwidget.cxx
[  3%] Generating moc_customwidgets.cxx
Scanning dependencies of target uiplugin
[  3%] Building CXX object
plugins/CMakeFiles/uiplugin.dir/customwidgets.cpp.obj
cl : Command line warning D9002 : ignoring unknown option '-fPIC'
customwidgets.cpp
[  3%] Building CXX object plugins/CMakeFiles/uiplugin.dir/customwidget.cpp.obj
cl : Command line warning D9002 : ignoring unknown option '-fPIC'
customwidget.cpp
[  3%] Building CXX object
plugins/CMakeFiles/uiplugin.dir/moc_customwidget.cxx.obj
cl : Command line warning D9002 : ignoring unknown option '-fPIC'
moc_customwidget.cxx
[  3%] Building CXX object
plugins/CMakeFiles/uiplugin.dir/moc_customwidgets.cxx.obj
cl : Command line warning D9002 : ignoring unknown option '-fPIC'
moc_customwidgets.cxx
Linking CXX static library uiplugin.lib
[  3%] Built target uiplugin
[  3%] Running generator for QtCore...
NMAKE : fatal error U1077:
'c:\Downloads\setuptools\install-py2.6-qt4.8.0\bin\generatorrunner.EXE' :
return code '0xc0000005'
Stop.
NMAKE : fatal error U1077: '"c:\program files (x86)\microsoft visual studio
9.0\vc\bin\nmake.exe"' : return code '0x2'
Stop.
NMAKE : fatal error U1077: '"c:\program files (x86)\microsoft visual studio
9.0\vc\bin\nmake.exe"' : return code '0x2'
Stop.