Richard of Last.fm over at metabrew has ported his apps to Erlang. It was also done by riak, couchdb and others. He mentions extracting the needed parts, or including the whole VM into the distribution. Main trait here is: the program does not require Erlang to be installed on the target machine.
So the question is, how do you, step by step, package an Erlang program into a windows (and, less important, linux) executable?
P.S. I've seen the SAE project, and I've read all the relevant questions here. None answer my question.