Finally I succeeded building it, here is a proof-log :)

D:\WORK\PerlCompile\compile-modules\perl561\Tk-PNG-2.005>perl -w Makef
+ile.PL
d:/WORK/PerlCompile/compile-modules/perl561/Tk-PNG-2.005 does not star
+t with D:/perl561/site/lib
i.e. building outside Tk itself
Finding dependancies for PNG.xs
Finding dependancies for imgPNG.c
Writing Makefile for Tk::PNG

D:\WORK\PerlCompile\compile-modules\perl561\Tk-PNG-2.005>vc nmake

Microsoft (R) Program Maintenance Utility   Version 6.00.8168.0
Copyright (C) Microsoft Corp 1988-1998. All rights reserved.

"Running Mkbootstrap for Tk::PNG ()"
        D:\perl561\bin\perl.exe -Id:\perl561\lib -Id:\perl561\lib -MEx
+tUtils::Command -e chmod 644 PNG.bs
        D:\perl561\bin\perl.exe "-Id:\perl561\lib" "-Id:\perl561\lib" 
+-MExtUtils::Mksymlists  -e "Mksymlists('NAME' => 'Tk::PNG', 'DLBASE' 
+=> 'PNG', 'DL_FUNCS' => {  }, 'FUNCLIST' => [], 'IMPORTS' => {  }, 'D
+L_VARS' => []);"
        link -out:blib\arch\auto\Tk\PNG\PNG.dll -dll -nologo -nodefaul
+tlib -release  -libpath:"d:\perl561\lib\CORE"  -machine:x86 PNG.obj  
+imgPNG.obj   D:\perl561\lib\CORE\perl56.lib libpng.lib zlib.lib D:\MS
+VStudio\VC98\LIB\oldnames.lib D:\MSVStudio\VC98\LIB\kernel32.lib D:\M
+SVStudio\VC98\LIB\user32.lib D:\MSVStudio\VC98\LIB\gdi32.lib D:\MSVSt
+udio\VC98\LIB\winspool.lib D:\MSVStudio\VC98\LIB\comdlg32.lib D:\MSVS
+tudio\VC98\LIB\advapi32.lib D:\MSVStudio\VC98\LIB\shell32.lib D:\MSVS
+tudio\VC98\LIB\ole32.lib D:\MSVStudio\VC98\LIB\oleaut32.lib D:\MSVStu
+dio\VC98\LIB\netapi32.lib D:\MSVStudio\VC98\LIB\uuid.libD:\MSVStudio\
+VC98\LIB\wsock32.lib D:\MSVStudio\VC98\LIB\mpr.lib D:\MSVStudio\VC98\
+LIB\winmm.lib D:\MSVStudio\VC98\LIB\version.lib D:\MSVStudio\VC98\LIB
+\odbc32.lib D:\MSVStudio\VC98\LIB\odbccp32.lib D:\MSVStudio\VC98\LIB\
+msvcrt.lib -def:PNG.def
   Creating library blib\arch\auto\Tk\PNG\PNG.lib and object blib\arch
+\auto\Tk\PNG\PNG.exp
        D:\perl561\bin\perl.exe -Id:\perl561\lib -Id:\perl561\lib -MEx
+tUtils::Command -e chmod 755 blib\arch\auto\Tk\PNG\PNG.dll
        D:\perl561\bin\perl.exe -Id:\perl561\lib -Id:\perl561\lib -MEx
+tUtils::Command -e cp PNG.bs blib\arch\auto\Tk\PNG\PNG.bs
        D:\perl561\bin\perl.exe -Id:\perl561\lib -Id:\perl561\lib -MEx
+tUtils::Command -e chmod 644 blib\arch\auto\Tk\PNG\PNG.bs

D:\WORK\PerlCompile\compile-modules\perl561\Tk-PNG-2.005>vc nmake test

Microsoft (R) Program Maintenance Utility   Version 6.00.8168.0
Copyright (C) Microsoft Corp 1988-1998. All rights reserved.

        D:\perl561\bin\perl.exe -Mblib -Id:\perl561\lib -Id:\perl561\l
+ib -e "use Test::Harness qw(&runtests $verbose); $verbose=0; runtests
+ @ARGV;" t\basic.t
Using d:/WORK/PerlCompile/compile-modules/perl561/Tk-PNG-2.005/blib
t\basic.............ok
All tests successful.
Files=1, Tests=4,  2 wallclock secs ( 0.00 cusr +  0.00 csys =  0.00 C
+PU)
[download]

and I even saw some picture on a screen. Honestly!

A few tips what were of concern here.

• I have installed Compress::Zlib, which is compiled by AS, but did not had "zlib.h" for *that* version (which is 1.0.4), so I've downloaded zlib113 and proceeded but very carefully not to confuse them ("zlib.dll" file is here and there, and it's important not to confuse them)
• If you decide to build zlib, then unzip zlib into directory where you build your module but into subdirectory "zlib", go in there. "makefile.nt" in "nt" is which I used and succeeded.
• Tk::PNG-2.005 has libpng in it, and it's good but be careful when building it, because (at least for me) ./libpng/makefile.vc was confusing and I lost about a hour trying to figure out what was wrong, and found "right" file which was okay for that configuration and it's name is -- ./libpng/scripts/makefile.vcwin32.
  Needless to say but important to do that you must copy it to ".." once and call it as "nmake /f makefile.vcwin32". Hmm. now I realised that "nmake /f scripts\makefile.vcwin32" will also work. Okay. A single touch at the very end of that file right before "libpng.lib" was created -del ... instead of just del ....
• after that go to right place, do "perl Makefile.PL" and you should be okay if freshly created libs are in their right place. When installing your module, remember that perl should "see" right zlib.dll when running it. Probably there exists a way (right rule for right makefile) to create static lib to not confuse different zlib.dll-s.

update: some HTML formating cleanup

Courage, the Cowardly Dog.