diff --git a/makepanda/installer.nsi b/makepanda/installer.nsi
index 04d9e521d0..d14cb44da9 100755
--- a/makepanda/installer.nsi
+++ b/makepanda/installer.nsi
@@ -143,12 +143,22 @@ SectionGroup "Panda3D Libraries"
         SetOutPath "$INSTDIR"
         File "${BUILT}\LICENSE"
         File /r /x CVS "${BUILT}\ReleaseNotes"
-        SetOutPath $INSTDIR\bin
-        File /r /x libpandagl.dll /x libpandadx9.dll /x cgD3D*.dll /x python*.dll /x libpandaode.dll /x libp3fmod_audio.dll /x fmodex*.dll /x libp3ffmpeg.dll /x av*.dll /x postproc*.dll /x swscale*.dll /x swresample*.dll /x NxCharacter*.dll /x cudart*.dll /x PhysX*.dll /x libpandaphysx.dll /x libp3rocket.dll /x boost_python*.dll /x Rocket*.dll /x _rocket*.pyd /x libpandabullet.dll /x OpenAL32.dll /x *_oal.dll /x libp3openal_audio.dll "${BUILT}\bin\*.dll"
-        File /nonfatal /r "${BUILT}\bin\Microsoft.*.manifest"
+
         SetOutPath $INSTDIR\etc
         File /r "${BUILT}\etc\*"
 
+        SetOutPath $INSTDIR\bin
+        File /r /x api-ms-win-*.dll /x ucrtbase.dll /x libpandagl.dll /x libpandadx9.dll /x cgD3D*.dll /x python*.dll /x libpandaode.dll /x libp3fmod_audio.dll /x fmodex*.dll /x libp3ffmpeg.dll /x av*.dll /x postproc*.dll /x swscale*.dll /x swresample*.dll /x NxCharacter*.dll /x cudart*.dll /x PhysX*.dll /x libpandaphysx.dll /x libp3rocket.dll /x boost_python*.dll /x Rocket*.dll /x _rocket*.pyd /x libpandabullet.dll /x OpenAL32.dll /x *_oal.dll /x libp3openal_audio.dll "${BUILT}\bin\*.dll"
+        File /nonfatal /r "${BUILT}\bin\Microsoft.*.manifest"
+
+        ; Before Windows 10, we need these stubs for the UCRT as well.
+        ReadRegDWORD $0 HKLM "Software\Microsoft\Windows NT\CurrentVersion" "CurrentMajorVersionNumber"
+        ${If} $0 < 10
+            ClearErrors
+            File /nonfatal /r "${BUILT}\bin\api-ms-win-*.dll"
+            File /nonfatal "${BUILT}\bin\ucrtbase.dll"
+        ${Endif}
+
         SetDetailsPrint both
         DetailPrint "Installing models..."
         SetDetailsPrint listonly
diff --git a/makepanda/makepanda.py b/makepanda/makepanda.py
index 27a5192f2b..af852dc161 100755
--- a/makepanda/makepanda.py
+++ b/makepanda/makepanda.py
@@ -1060,6 +1060,10 @@ def CompileCxx(obj,src,opts):
                 cmd += "/DWINVER=0x601 "
             else:
                 cmd += "/DWINVER=0x501 "
+                # Work around a WinXP/2003 bug when using VS 2015+.
+                if SDK.get("VISUALSTUDIO_VERSION") == '14.0':
+                    cmd += "/Zc:threadSafeInit- "
+
             cmd += "/Fo" + obj + " /nologo /c"
             if GetTargetArch() != 'x64' and (not PkgSkip("SSE2") or 'SSE2' in opts):
                 cmd += " /arch:SSE2"
@@ -2884,22 +2888,72 @@ if tp_dir is not None:
 
     if GetTarget() == 'windows':
         CopyAllFiles(GetOutputDir() + "/bin/", tp_dir + "extras/bin/")
-        if not PkgSkip("PYTHON"):
-            pydll = "/" + SDK["PYTHONVERSION"].replace(".", "")
-            if (GetOptimize() <= 2): pydll += "_d.dll"
-            else: pydll += ".dll"
-            CopyFile(GetOutputDir() + "/bin" + pydll, SDK["PYTHON"] + pydll)
 
-            for fn in glob.glob(SDK["PYTHON"] + "/vcruntime*.dll"):
-                CopyFile(GetOutputDir() + "/bin/", fn)
+        if not PkgSkip("PYTHON") and not RTDIST:
+            #XXX rdb I don't think we need to copy over the Python DLL, do we?
+            #pydll = "/" + SDK["PYTHONVERSION"].replace(".", "")
+            #if (GetOptimize() <= 2): pydll += "_d.dll"
+            #else: pydll += ".dll"
+            #CopyFile(GetOutputDir() + "/bin" + pydll, SDK["PYTHON"] + pydll)
 
-            if not RTDIST:
-                CopyTree(GetOutputDir() + "/python", SDK["PYTHON"])
-                if not os.path.isfile(SDK["PYTHON"] + "/ppython.exe") and os.path.isfile(SDK["PYTHON"] + "/python.exe"):
-                    CopyFile(GetOutputDir() + "/python/ppython.exe", SDK["PYTHON"] + "/python.exe")
-                if not os.path.isfile(SDK["PYTHON"] + "/ppythonw.exe") and os.path.isfile(SDK["PYTHON"] + "/pythonw.exe"):
-                    CopyFile(GetOutputDir() + "/python/ppythonw.exe", SDK["PYTHON"] + "/pythonw.exe")
-                ConditionalWriteFile(GetOutputDir() + "/python/panda.pth", "..\n../bin\n")
+            #for fn in glob.glob(SDK["PYTHON"] + "/vcruntime*.dll"):
+            #    CopyFile(GetOutputDir() + "/bin/", fn)
+
+            # Copy the whole Python directory.
+            CopyTree(GetOutputDir() + "/python", SDK["PYTHON"])
+
+            # NB: Python does not always ship with the correct manifest/dll.
+            # Figure out the correct one to ship, and grab it from WinSxS dir.
+            manifest = GetOutputDir() + '/tmp/python.manifest'
+            if os.path.isfile(manifest):
+                os.unlink(manifest)
+            oscmd('mt -inputresource:"%s\\python.exe";#1 -out:"%s" -nologo' % (SDK["PYTHON"], manifest), True)
+
+            if os.path.isfile(manifest):
+                import xml.etree.ElementTree as ET
+                tree = ET.parse(manifest)
+                idents = tree.findall('./{urn:schemas-microsoft-com:asm.v1}dependency/{urn:schemas-microsoft-com:asm.v1}dependentAssembly/{urn:schemas-microsoft-com:asm.v1}assemblyIdentity')
+            else:
+                idents = ()
+
+            for ident in tree.findall('./{urn:schemas-microsoft-com:asm.v1}dependency/{urn:schemas-microsoft-com:asm.v1}dependentAssembly/{urn:schemas-microsoft-com:asm.v1}assemblyIdentity'):
+                sxs_name = '_'.join([
+                    ident.get('processorArchitecture'),
+                    ident.get('name').lower(),
+                    ident.get('publicKeyToken'),
+                    ident.get('version'),
+                ])
+
+                # Find the manifest matching these parameters.
+                pattern = os.path.join('C:' + os.sep, 'Windows', 'WinSxS', 'Manifests', sxs_name + '_*.manifest')
+                manifests = glob.glob(pattern)
+                if not manifests:
+                    print("%sWARNING:%s Could not locate manifest %s.  You may need to reinstall the Visual C++ Redistributable." % (GetColor("red"), GetColor(), pattern))
+                    continue
+
+                CopyFile(GetOutputDir() + "/python/" + ident.get('name') + ".manifest", manifests[0])
+
+                # Also copy the corresponding msvcr dll.
+                pattern = os.path.join('C:' + os.sep, 'Windows', 'WinSxS', sxs_name + '_*', 'msvcr*.dll')
+                for file in glob.glob(pattern):
+                    CopyFile(GetOutputDir() + "/python/", file)
+
+            # Copy python.exe to ppython.exe.
+            if not os.path.isfile(SDK["PYTHON"] + "/ppython.exe") and os.path.isfile(SDK["PYTHON"] + "/python.exe"):
+                CopyFile(GetOutputDir() + "/python/ppython.exe", SDK["PYTHON"] + "/python.exe")
+            if not os.path.isfile(SDK["PYTHON"] + "/ppythonw.exe") and os.path.isfile(SDK["PYTHON"] + "/pythonw.exe"):
+                CopyFile(GetOutputDir() + "/python/ppythonw.exe", SDK["PYTHON"] + "/pythonw.exe")
+            ConditionalWriteFile(GetOutputDir() + "/python/panda.pth", "..\n../bin\n")
+
+# Copy over the MSVC runtime.
+if GetTarget() == 'windows' and "VISUALSTUDIO" in SDK:
+    vcver = SDK["VISUALSTUDIO_VERSION"].replace('.', '')
+    crtname = "Microsoft.VC%s.CRT" % (vcver)
+    dir = os.path.join(SDK["VISUALSTUDIO"], "VC", "redist", GetTargetArch(), crtname)
+
+    if os.path.isdir(dir):
+        CopyFile(GetOutputDir() + "/bin/", os.path.join(dir, "vcruntime" + vcver + ".dll"))
+        CopyFile(GetOutputDir() + "/bin/", os.path.join(dir, "msvcp" + vcver + ".dll"))
 
 ########################################################################
 ##
diff --git a/makepanda/makepandacore.py b/makepanda/makepandacore.py
index 123c2bb555..2b9e9d4a32 100644
--- a/makepanda/makepandacore.py
+++ b/makepanda/makepandacore.py
@@ -512,6 +512,7 @@ def oscmd(cmd, ignoreError = False):
             exit("Cannot find "+exe+" on search path")
         res = os.spawnl(os.P_WAIT, exe_path, cmd)
     else:
+        cmd = cmd.replace(';', '\\;')
         res = subprocess.call(cmd, shell=True)
         sig = res & 0x7F
         if (GetVerbose() and res != 0):
@@ -2068,6 +2069,10 @@ def SdkLocateWindows(version = '7.1'):
         # Choose the latest version of the Windows 10 SDK.
         platsdk = GetRegistryKey("SOFTWARE\\Microsoft\\Windows Kits\\Installed Roots", "KitsRoot10")
 
+        # Fallback in case we can't read the registry.
+        if not platsdk or not os.path.isdir(platsdk):
+            platsdk = "C:\\Program Files (x86)\\Windows Kits\\10\\"
+
         if platsdk and os.path.isdir(platsdk):
             incdirs = glob.glob(os.path.join(platsdk, 'Include', version + '.*.*'))
             max_version = ()
@@ -2100,6 +2105,10 @@ def SdkLocateWindows(version = '7.1'):
         # We chose a specific version of the Windows 10 SDK.  Verify it exists.
         platsdk = GetRegistryKey("SOFTWARE\\Microsoft\\Windows Kits\\Installed Roots", "KitsRoot10")
 
+        # Fallback in case we can't read the registry.
+        if not platsdk or not os.path.isdir(platsdk):
+            platsdk = "C:\\Program Files (x86)\\Windows Kits\\10\\"
+
         if version.count('.') == 2:
             version += '.0'
 
@@ -2109,6 +2118,10 @@ def SdkLocateWindows(version = '7.1'):
     elif version == '8.1':
         platsdk = GetRegistryKey("SOFTWARE\\Microsoft\\Windows Kits\\Installed Roots", "KitsRoot81")
 
+        # Fallback in case we can't read the registry.
+        if not platsdk or not os.path.isdir(platsdk):
+            platsdk = "C:\\Program Files (x86)\\Windows Kits\\8.1\\"
+
     elif version == '8.0':
         platsdk = GetRegistryKey("SOFTWARE\\Microsoft\\Windows Kits\\Installed Roots", "KitsRoot")
 
@@ -2414,9 +2427,19 @@ def SetupVisualStudioEnviron():
     # with Visual Studio 2015 requires use of the Universal CRT.
     if winsdk_ver == '7.1' and SDK["VISUALSTUDIO_VERSION"] == '14.0':
         win_kit = GetRegistryKey("SOFTWARE\\Microsoft\\Windows Kits\\Installed Roots", "KitsRoot10")
+
+        # Fallback in case we can't read the registry.
+        if not win_kit or not os.path.isdir(win_kit):
+            win_kit = "C:\\Program Files (x86)\\Windows Kits\\10\\"
+        elif not win_kit.endswith('\\'):
+            win_kit += '\\'
+
         AddToPathEnv("LIB", win_kit + "Lib\\10.0.10150.0\\ucrt\\" + arch)
         AddToPathEnv("INCLUDE", win_kit + "Include\\10.0.10150.0\\ucrt")
 
+        # Copy the DLLs to the bin directory.
+        CopyAllFiles(GetOutputDir() + "/bin/", win_kit + "Redist\\ucrt\\DLLs\\" + arch + "\\")
+
 ########################################################################
 #
 # Include and Lib directories.