Is the Darwin/Mac OS X release of Wine currently able to run Windows executable (.exe)?
No. We are currently working on integrating an x86 emulator in wine in order to run Win32 exe on a PowerPC Box. But on Darwin-x86 a Win32 .exe should run within wine.
Without the need for an emulator, Darwine will be much easier to finish. It will work much better. By what logic does producing a better product for less effort lower your morale?