In the new 0.5.1 branch, there is an official Windows executable of Node.js. The Linux version of Node.js uses established libraries such as v8, libev, libeio.
Since libev and libeio is for *NIX platforms; is the Windows port of Node.js ready for production use, or is it only for development?
0.5.x branch is unstable. Even branch numbers are stable and odds are unstable, so you will have to wait for the 0.6.x if you want it production ready and stable.
Version 0.5.1 is marked unstable, so don't expect this to be production quality. Microsoft seems to back the Win32 port of Node however, so in the (near?) future it will be stable.
I have tried the Windows version of Node.js (0.5.1). It actually works very well, but I couldn't load "child_process" module. It seems that it was not shipped with the current version.
Just my two cents.
Updated:
Here is the TODO.Win32, which answers my questions.