Mojca, Hans, Wolfgang and all other users:

1. Get minimals, I used context-setup-mswin
2. Follow setup install for windows.
3. Using Winedt:
a. go to options, execution modes
b. in full executeables...enter full path where you installed minimals
c. Now in TeX\MikTeX\Options...Add a search root to minimals
d. UPIDATE file name database

et voila!!!! you now have Context latest beta running under MikTeX via Winedt!!!!!

Thanks to ALL who gave hints and tips on this so forcing me to get it DONE!