The file msvcrt_winxp.obj
is part of WinDDK, so it sounds like something has gone wrong with setting up your visual studio project.
First of all, make sure you're using the gstreamer packages from gstreamer.freedesktop.org and not the SDK from gstreamer.com. The SDK is for the older gstreamer 0.10.
Now having just said that, the gstreamer.com website still has some useful documentation on it. I recommend following the instructions at the bottom of this page, under the heading "Creating new projects using the wizard": http://docs.gstreamer.com/display/GstSDK/Installing+on+Windows
You'll want to click to expand the manual installation instructions in the blue box, as the installer did not automatically copy all the files for me.
Once you've got that set up, make a new project using the wizard and everything should work!
If you're still having problems, check the instructions under "Remove the dependency with the Visual Studio runtime" to make sure you've installed the DDK properly.