Can anybody suggest what I may be doing wrong?

The command line I'm using to compile boost is:
C:\boost\boost_1_36_0>bjam --without-python --without-mpi msvc-WM5/variant=debug,release/threading=multi/stdlib=stlport/link=shared,static/runtime-link=static stage

The output from the -d2 flag, as it relates to the System library is:
file bin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi\error_code.obj.rsp
"libs\system\src\error_code.cpp"
 -Fo"bin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi\error_code.obj"
   -TP
 /Z7
 /Od
 /Ob0
 /W3
 /GR
 /MTd
 /Zc:forScope
 /Zc:wchar_t
 /wd4675
 /EHs
 -D_CRT_SECURE_NO_WARNINGS
 -D_WIN32_WCE=0x501
 -DUNDER_CE=0x501
 -DWIN32_WCE_PSPC
 -D_MSC_VER=1500
 -DWINCE
 -DARM
 -D_ARM_
 -DARMV4I
 -D_LITTLE_ENDIAN
 -DUNICODE
 -D_UNICODE
 -DPOCKETPC2003_UI_MODEL
 -c
 
-DBOOST_ALL_NO_LIB=1
 
-DBOOST_SYSTEM_STATIC_LINK=1
 
-D_STLP_DEBUG=1
 
-D_STLP_DEBUG_UNINITIALIZED=1
 
"-I."
 
"-IC:STLPortSTLport-5.1.5stlport"

compile-c-c++ bin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi\error_code.obj

    cl /Zm800 -nologo @"bin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi\error_code.obj.rsp"

error_code.cpp
Unknown EVC++ compiler version - please run the configure tests and report the results
libs\system\src\error_code.cpp(83) : error C2039: 'strerror' : is not a member of 'stlpd_std'
libs\system\src\error_code.cpp(83) : error C3861: 'strerror': identifier not found
...failed compile-c-c++ bin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi\error_code.obj...
...skipped <pbin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi>libboost_system-vc-mt-sgdp-1_36.lib for lack of <pbin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi>error_code.obj...
...skipped <pstage\lib>libboost_system-vc-mt-sgdp-1_36.lib for lack of <pbin.v2\libs\system\build\msvc-WM5\debug\link-static\runtime-link-static\stdlib-stlport\threading-multi>libboost_system-vc-mt-sgdp-1_36.lib...

For reference, my user-config.jam file:
using msvc : WM5 :
    "cl.exe" :
    <compileflags>-D_CRT_SECURE_NO_WARNINGS
    <compileflags>-D_WIN32_WCE=0x501
    <compileflags>-DUNDER_CE=0x501
    <compileflags>-DWIN32_WCE_PSPC
    <compileflags>-D_MSC_VER=1500
    <compileflags>-DWINCE
    <compileflags>-DARM
    <compileflags>-D_ARM_
    <compileflags>-DARMV4I
    <compileflags>-D_LITTLE_ENDIAN
    <compileflags>-DUNICODE
    <compileflags>-D_UNICODE
    <compileflags>-DPOCKETPC2003_UI_MODEL   
    <linkflags>/subsystem:windowsce,5.01
    <linkflags>/machine:arm
    <linkflags>/NODEFAULTLIB:oldnames.lib
    <linkflags>/STACK:262144,4096
    <linkflags>coredll.lib
    <linkflags>corelibc.lib
    <linkflags>ole32.lib
    <linkflags>oleaut32.lib
    <linkflags>uuid.lib
    <linkflags>commctrl.lib
    <architecture>arm
    <instruction-set>armv4
    <interface>wince
    <assembler>"armasm.exe"
;
using stlport : : C:\STLPort\STLport-5.1.5\stlport C:\STLPort\STLport-5.1.5\lib ;

Thanks,
PaulH