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Using Cygwin 1.7, there are build failures for both _curses, _curses_panel, and _io. 
The curses failures are because symlinking /usr/include/{n}curses.h from /usr/include/{n}curses.h was removed in recent versions [0], so I added "-I/usr/include/ncurses" to the BASECFLAGS for cygwin. Not knowing the ins and outs of gcc/configure/make, I doubt the patch (ncurses_fix.diff) is correct or complete. It works on my machine so at least it's a starting point (maybe?).
_io gets the following warning and then later failure on gcc 4.3.4:
/cygdrive/c/Users/bcurtin/cygwin-python/release27-maint/Modules/_io/_iomodule.c:172: warning: ‘PyExc_BlockingIOError’ redeclared without dllimport attribute: previous dllimport ignored
...
build/temp.cygwin-1.7.5-i686-2.7/cygdrive/c/Users/bcurtin/cygwin-python/release27-maint/Modules/_io/bufferedio.o: In function `_buffered_check_blocking_error': /cygdrive/c/Users/bcurtin/cygwin-python/release27-maint/Modules/_io/bufferedio.c:558: undefined reference to `__imp__PyExc_BlockingIOError'
/cygdrive/c/Users/bcurtin/cygwin-python/release27-maint/Modules/_io/bufferedio.c:558: undefined reference to `__imp__PyExc_BlockingIOError'
My Linux compile (gcc 4.5.0) gets the same warning, but no error. Windows is totally fine with _iomodule.c:172.
This was found by Ben Walker.
[0] http://cygwin.com/ml/cygwin-announce/2010-01/msg00002.html