I just installed S60 5th_Edition SDK v0.9 and now I'm following the verification steps in the included guide. The first task is compiling and running the hello world application. The "bldmake bldfiles" generates some make files for the application + abld.bat (this seems to be correct). However the "abld build" command generates the "Nothing to do" message and no new output files are produced. Naturally, I can't continue starting the application in the simulator...
Another guide suggests using "abld build winscw udeb". If I compile with this command I no longer get the previous message, just a lot of output info, though no clear errors/warnings. However I still can't find the example application on the emulator.