Since I wasn't able to compile&build current CommunityVersion of DNN (downloaded  2011-11-21) because it's full of errors, I build it from current trunk version of sources.

Here are 20 steps for complete beginners. If this is compeletely misleading, please correct me, but I didn't found any simple guide how to build it...

20 steps to build DNN community edition

1. Download last trunk version
2. Download community version (currently 2011-11-22 full of bugs so we will use trunk to compile...)
3. we will work with trunk version, but we need packages and modules from community for successfull install
4. install SQLEXPRESS if not installed
5. unzip "c:\Install\DNN\trunk\Externally Sourced\DDRMenu_02.00.01_Install.zip" to c:\Install\DNN\trunk\Website\bin
6. check that trunk website project is .NET4; if not change in property pages...
7. create DotNetNuke_Community website in IIS if it's not created by VS
8. setup site for .NET4 classic
9. decide which account will be used to access SQL and if windows authentication will be used
10. setup apppool to account which will be used if WA will be used to access SQL
11. create DB for DNN, let's say it will be 'dnn'
12. add corrent login/user to you DB (here 'dnn')
13. build trunk version, step by step Instrumentation, Library, Razor, Client, Web, SolutionItems / I don't rememeber correct order, fiddle with it
14. run the website, go through the wizard
15. after wizard finished, DNN site will popup but with errors / mine was 'DotNetNuke.Services.Exceptions.ModuleLoadException: Couldn't load menu style 'admin/Menus/DNNAdmin'
16. copy all non empty folders in c:\Install\DNN\public\Website\Install to c:\Install\DNN\trunk\Website\Install - this will enable succe
17. go to the http://localhost/DotNetNute_Community/Install/install.aspx?mode=InstallResources - modules will be reinstalled
18. rebuild trunk once again to have your compiled modules up-to-date
19. should be working fine now
20. have some fun with DNN...

What exactly to you mean the latest community version is full of errors ???

It builds just fine for me - you DO NEED to do RELEASE BUILD before anything will work correctly - this is well documented
 - but that's simply based on the fact that the msbuild scripts included with the dnn source do noto create the website install elements in DEBUG mode.

In addition there is no real need to go thru the steps you list for the trunk either - the msbuild script will again build the trunk to a working install if you build the project in  RELEASE mode as opposed to DEBUG.

This includes creating all the dll's and installing them to the web site project bin folder.

Putting it another way - when you first download the source code all that exists is just that - the SOURCE code - there are no dll's or core installer elements in the website project.

Running a full build in RELEASE mode causes all these elements to be created and the copied / merged into the correct places by the msbuild script.

Westa