Using MinGW 4.7.2 every compiled Qt 4 application crashes - even programs that ran before.
You will need MinGW 4.4. To use MinGW 4.7.2, you need to compile Qt yourself with it. The crash is due to ABI incompatibilities between the MinGW versions.
See this on how to build Qt:
http://qt-project.org/wiki/Building_Qt_Desktop_for_Windows_with_MinGW
In general, when downloading Qt, pay attention to the MinGW version it's been built with. If you want to use your own MinGW installation, it'll need to be the same version as the one Qt was built with.