Statring with Ghostscript 5.50 and fpTeX 0.4 (as on the TeX-Live 5 CD-ROM), no specific Ghostscript installation should be needed. All the tools are linked to some library that knows where to look for Ghostscript in the registry.
In doubt or in case of trouble, try to set your PATH so that gsdll32.dll be found:
If you encounter error messages like:
or something about font not found, it is more than likely that Ghostscript has been installed in a strange way. You can solve this by telling Ghostscript explicitely where its files are located:
Also : make sure to have only one version of Ghostscript installed. Version 5.50 can't work with initialization files of version 5.10 for example.
Also beware that if you are running any version of gsftopk older than 0.19.1 and you have upgraded Ghostscript to version 6.0 or later, then gsftopk will fail to build fonts.