I run a webserver on an intranet with exactly that setup.
It's a good idea to ignore the PHP setup information when installing pl2 on NT with Apache.
Make a php4 folder in your C: drive root, and unzip the php4pl2 into it. Rename the ini-dist file .ini, and edit it. KEEP EVERYTHING IN THAT FOLDER.
Edit your srm.conf file in Apache to point to the new folder for .php4 files, and restart the server.
That should work fine (it does for me!)
Any questions, just email me.
Dave