designer.exe will not launch after compiling libraries

I am overly frustrated with the Qt – Visual Studio add-in because I cannot get the designer to open my *.ui files. The problem lies in the launching of designer.exe. I am not sure why this is the case but when I open designer through the Visual Studio 2010 menu item or through the C:\Qt\bin\designer.exe file the same thing happens. The process shows up in the task manager for a moment and then dissappears, never to successfully launch.

The process I used to install:

1. Download and extract Qt 4.7.3 Source Code
2. Copy contents of the folder qt-everywhere-opensource-src-4.7.3 to C:\Qt\4.7.3
3. Set-up enviromental variables (QTDIR and QMAKESPEC) and update PATH to include (QDIR\bin)
4. From Visual Studios Command Prompt: cd c:\Qt\4.7.3 configure -debug-and-release -opensource – platform win32-msvc2010 nmake
5. Install Qt Visual Studio Add-in
6. Integrate just complied Qt to IDE using menu Qt > Qt Options

I am sure all these details were not necessary but can someone help solve this issue? I am mid project and would like to finish my application. Thanks.

Edit: I am using Visual Studios Ultimate 2010 ×64 with Windows 7 Enterprise x64.