Jason,
Here's the output after a fresh install (PostgreSQL 7.2.1-2):
$ ls -l /usr/bin/postgres.exe
-rwx------ 1 Davide None 2708992 Jun 10 06:13 /usr/bin/postgres.exe
> Please use Cygwin's setup.exe to re-install PostgreSQL and then perform
> the following:
>
> $ ls -l /usr/bin/postgres.exe
>
> What is the output of the above command?
Cheers...
Dave