configure fails to find dxsdk lib and fails as follows, this used to work before,
until recently,

checking for DirectX SDK... c:/devtools/dxsdk
configure: Rewriting dxsdk_path to "/cygdrive/c/devtools/dxsdk"
checking for DirectX SDK lib dir... configure: error: Invalid DirectX SDK lib dir
configure exiting with result code 1

I could workaround the problem as follows:
bash configure --with-freetype=c:/devtools/freetype-i586 \
                      --with-dxsdk=c:/devtools/dxsdk \
                      --with-dxsdk-lib=c:/devtools/dxsdk/Lib/x86 <--- critical