I found the problem. I was installing PHP as an IIS ISAPI and that doesn’t work apparently.
Installed as IIS CGI and all is good now.
Your problem is almost certainly the php.ini is specifying the extensions directory wrong. Usually the php installer puts the extension files here:
c:\program files\php\ext
or here
c:\program files\php\extensions
Take a look at your hard drive and see where those extensions are actually installed and put the full path into the extension_dir property. That should fix your problem