python setup.py py2exe
Which will build the application. Sometimes it may stop reporting missing DLLs. Download them from the net and place them in the script folder. If you use Python 2.6 you may need Microsoft Visual C++ 2008 Redistributable Package.
If you try tu run the standalone application and Windows says that the configuration is invalid then you have to install Microsoft Visual C++ 2008 Redistributable Package (note that to app users)
