Postgres: Packaging & Server Startup

Hi,

I am working on packaging postgres database in our java based
application.I downloaded postgresql-8.2.12-1-binaries-no-installer.zip
from the postgres site and installed it on a windows 2003 machine
using administrator account.I later created a postgres service login
account and changed the permissions on the postgres directory to
include this user too.

When logged in as administrator , i tried starting the server
using the following cmd:

pg_ctl.exe -U postgres -P <mypasswd> -w start -D D:\pgsql\data

However, i get the following error message:

waiting for server to start...FATAL: postgres: could not locate
matching postgres executable

I also tried the starting the server using runas :

runas /user:postgres "pg_ctl.exe -wait start -D D:\pgsql\data"

The above too failed.Please let me know on what i am missing
here.

Thanks.