opened a console and ran ./tools/wineinstall as per the readme, got the following:

WINE Installer v0.74

Running configure...

configure: creating cache config.cache
checking build system type... i686-pc-linux-gnu
checking host system type... i686-pc-linux-gnu
checking whether make sets $(MAKE)... yes
checking for gcc... no
checking for cc... no
checking for cc... no
checking for cl... no
configure: error: no acceptable C compiler found in $PATH
See `config.log' for more details.

Configure failed, aborting install.

So what am i missing or doing wrong here?

You need to install gcc. You're probably going to need other development packages because they're not installed by default.

Don't do it the hard way!!!

See: http://www.zebulon.org.uk/urpmi_en.html

Follow the directions to set up your urpmi sources.

Once done type

urpmi wine

and install any indicated entry if it gives you multiple items.

It says "First, choose your distribution. 9.1 is the latest stable version, "cooker" is the developement version. Do not use cooker packages on a 9.1 distribution."

Am i ok to go ahead using this method with Mandrake 10 ?

Yes absolutely.

The first page merely provides the background info, and the version numbers are irrelevant.

However it provides some important often overlooked information, such as how to pick up css and mplayer dvd support...

The easyurpmi config page you are pointed to is where you pick up the actual sources for the version of Mandrake you have.

It will automatically come up with the detected version of Mandrake you have initially too... nice.

Just follow the directions, urpmi will keep you from doing anything "dumb".