On the previous emacs 24.3 it png files display just fine with libpng14-14.dll. On emacs 24.4.1 on windows 8, all png files give an error: "Cannot display image: (Invalid image specification)". Other images, like jpg display fine. I have this files in the emacs bin directory: (as you can see i have libpng-16-16.dll)
c:/Users/mario/Desktop/emacs-24.4/bin:
total used in directory 19701 available 268668268
drwxrwxrwx 1 mario mario 8192 03-11 11:52 .
drwxrwxrwx 1 mario mario 0 03-28 14:28 ..
-rwxrwxrwx 1 mario mario 590441 03-08 00:27 addpm.exe
-rwxrwxrwx 1 mario mario 978880 03-08 00:27 ctags.exe
-rwxrwxrwx 1 mario mario 730198 03-08 00:27 ebrowse.exe
-rwxrwxrwx 1 mario mario 9220110 03-08 00:27 emacs.exe
-rwxrwxrwx 1 mario mario 1021304 03-08 00:27 emacsclient.exe
-rwxrwxrwx 1 mario mario 667492 03-08 00:27 emacsclientw.exe
-rwxrwxrwx 1 mario mario 975457 03-08 00:27 etags.exe
-rw-rw-rw- 1 mario mario 7168 03-08 00:27 grep-changelog
-rw-rw-rw- 1 mario mario 532345 03-08 00:27 libXpm.dll
-rw-rw-rw- 1 mario mario 28702 03-11 11:36 libgif-7.dll
-rw-rw-rw- 1 mario mario 426102 03-11 11:52 libgmp-10.dll
-rw-rw-rw- 1 mario mario 1092935 03-11 11:52 libgnutls-28.dll
-rw-rw-rw- 1 mario mario 73994 03-11 11:52 libgnutls-openssl-27.dll
-rw-rw-rw- 1 mario mario 175142 03-11 11:52 libhogweed-2-5.dll
-rw-rw-rw- 1 mario mario 1070103 03-11 11:52 libiconv-2.dll
-rw-rw-rw- 1 mario mario 122719 03-11 11:52 libintl-8.dll
-rw-rw-rw- 1 mario mario 211760 03-11 11:36 libjpeg-9.dll
-rw-rw-rw- 1 mario mario 184425 03-11 11:52 libnettle-4-7.dll
-rw-rw-rw- 1 mario mario 194157 03-11 11:37 libpng16-16.dll
-rw-rw-rw- 1 mario mario 94639 03-11 11:52 libtasn1-6.dll
-rw-rw-rw- 1 mario mario 1121380 03-11 11:36 libxml2-2.dll
-rw-rw-rw- 1 mario mario 79360 03-11 11:52 regex2.dll
-rwxrwxrwx 1 mario mario 494367 03-08 00:27 runemacs.exe
-rw-rw-rw- 1 mario mario 72192 03-11 11:36 zlib1.dll