So I tried compiling by running "nmake /DLIBRAW_BUILDLIB -f Makefile.msvc" but it said "NMAKE: fatal error U1065: invalid option 'W' Stop."
I'm probably putting that flag in the wrong spot, but I tried to hack around it by swapping the dllimport and dllexport in libraw_types.h, so that it uses dllexport if I don't define that flag, which is what I'm trying to do anyway.
Doing that, I start compiling by running "nmake -f Makefile.msvc" but I get a bunch of errors (it won't let me post all of them because it thinks it's spam, but they all generally look like the following):

libraw_datastream.obj : error LNK2019: unresolved external symbol "__declspec(dl
limport) const LibRaw_windows_datastream::`vftable'" (__imp_??_7LibRaw_windows_d
atastream@@6B@) referenced in function "public: __thiscall LibRaw_windows_datast
ream::LibRaw_windows_datastream(void *)" (??0LibRaw_windows_datastream@@QAE@PAX@
Z)
libraw_c_api.obj : error LNK2019: unresolved external symbol "__declspec(dllimpo
rt) public: int __thiscall LibRaw::COLOR(int,int)" (__imp_?COLOR@LibRaw@@QAEHHH@
Z) referenced in function _libraw_COLOR
demosaic_packs.obj : error LNK2001: unresolved external symbol "__declspec(dllim
port) public: int __thiscall LibRaw::COLOR(int,int)" (__imp_?COLOR@LibRaw@@QAEHH
H@Z)
bin\libraw.dll : fatal error LNK1120: 29 unresolved externals
NMAKE : fatal error U1077: '"C:\Program Files (x86)\Microsoft Visual Studio 12.0
\VC\BIN\cl.EXE"' : return code '0x2'