I just tried to install context minimals on Windows. I have ruby and lua installed. I chose the command line installation(done today). Trying to generate a bare minimum(Hello World) pdf, I encounter the following error. I do not use Windows much so it may be my ignorance, what am I doing wrong?
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LuaTools | merging library c:/contextminimal/tex/texmf-context/tex/context/base/
luat-cnf.lua
LuaTools | saving merge from cont-en.lua
LuaTools | using compiled initialization file: cont-en.luc
LuaTools | using lua initialization file: cont-en.luc
LuaTools | running command: luatex --ini --lua="cont-en.luc" "c:/contextminimal/
tex/texmf-context/tex/context/base/cont-en.tex" \dump

This is LuaTeX, Version beta-0.40.6-2009081408 (Web2C 2009) (INITEX)
 \write18 enabled.
(c:/contextminimal/tex/texmf-context/tex/context/base/cont-en.tex (c:/contextmin
imal/tex/texmf-context/tex/context/base/context.tex (c:/contextminimal/tex/texmf
-context/tex/context/base/context.mkiv (c:/contextminimal/tex/texmf-context/tex/
context/base/syst-ini.tex
Warning: support for multiple lua states has been dropped.
  Please stop using a number after \directlua and \latelua.

)
!!!!: Your luatex binary is way too old, you need at least version 0.42.
 ) ) )
node memory in use: 90 words out of 500
rapidly available: 2:2, 3:5 nodes
current usage: 7 glue_spec, 1 dir nodes
No pages of output.
Transcript written on cont-en.log.
LuaTools |
LuaTools | runtime: 0.516 seconds
MTXrun | run 1: luatex --fmt="c:/contextminimal/tex/texmf-cache/luatex-cache/con
text/d1d2ccfb3346ff481f4c4dab022cb26d/formats/cont-en" --lua="c:/contextminimal/
tex/texmf-cache/luatex-cache/context/d1d2ccfb3346ff481f4c4dab022cb26d/formats/co
nt-en.luc" --backend=pdf "./math.tex"
This is LuaTeX, Version beta-0.40.6-2009081408 (Web2C 2009)
 \write18 enabled.
luatex: c:/contextminimal/tex/texmf-cache/luatex-cache/context/d1d2ccfb3346ff481
f4c4dab022cb26d/formats/cont-en.fmt: No such file or directory
MTXrun | fatal error, return code: 1



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