Rails Tutorial - mySQL doesn't connect in InstantRails

For those of you familiar with InstantRails or even MySQL I guess, I’m
working through the Agile Depot tutorial, and when I tried to create the
DB I got the following:

C:\work\depot>mysqladmin -u root create depot_development
mysqladmin: connect to server at ‘localhost’ failed
error: ‘Can’t connect to MySQL server on ‘localhost’ (10061)’
Check that mysqld is running on localhost and that the port is 3306.
You can check this by doing ‘telnet localhost 3306’

C:\work\depot>telnet localhost 3306
Connecting To localhost…Could not open connection to the host, on port
3306: Connect failed

I see the mySQL folder within IR. I cannot launch mysql.exe though…
any idea what I need to figure out here? I looked in IR under configure
mySQL and the .ini file opened showing this:

[mysqld]
datadir=${path}/mysql/data
basedir=${path}/mysql
bind-address=127.0.0.1
; Uncomment for use on USB key
; skip-innodb

Any idea what I need to do here?