[boost] how to compile giallo?

I just wanted to study the giallo aka. boost_net library. Unfortunately so far I cannot manage to compile the lib. I checked out the sources from CVS. I am running W2K with vc-7_1. I set BOOST_ROOT, and invoked bjam -s"TOOLS=vc-7_1" --with-boost_net in giallo root. All I get, is a report of a number of targets, nothing else happens. Is the build assumed to work on Windows? Do I need a special dircetory layout? Any help appreciated! Roland