Right now in my hard disk I have two copies of statically linked Emacs.
~/emacs-27/bin/emacs.exe
~/emacs-27/bin/emacs-27.0.90.exe (let me call it emacs-$version.exe)

Each of them is 128Mb large and waste space. I understand the latter is
only meant to be used when the version is required. runemacs.exe and
tools actually seem to rely on emacs.exe, because if I delete
emacs-$version.exe it still works fine.  Same goes for earlier releases.

I would suggest one of these options

a) Remove emacs-$version.exe during installation.

b) Same as a), but install a script emacs-$version.cmd containing just two
lines
    @echo off
    %~dp0\emacs.exe %*

c) Instead, remove emacs.exe and leave only emacs-$version.exe Make emacs.cmd a
script
    @echo off
    %~dp0\emacs-$version.exe %*
where $version is replaced with the current version. We also have to change
runemacs.exe to look for emacs-$version.exe

Option a) only invokes a change in Makefile.in. Option b) includes that change,
plus the creation of the script. This is in a patch attached to this
message. Option c) would be the most intrusive. I personally do not like it
because it binds a general utility, runemacs.exe, to a particular version.

After the patch:
juanj@DESKTOP-3A8AAJ0 MINGW64 ~/emacs-build/build/juanjo
$ du -smc ~/emacs-27/*
135     /c/Users/juanj/emacs-27/bin
1       /c/Users/juanj/emacs-27/include
1       /c/Users/juanj/emacs-27/lib
17      /c/Users/juanj/emacs-27/libexec
98      /c/Users/juanj/emacs-27/share
249     total

Before the patch:
juanj@DESKTOP-3A8AAJ0 MINGW64 ~/emacs-build/build/juanjo
$ du -smc ~/emacs-27/*
252     /c/Users/juanj/emacs-27/bin
1       /c/Users/juanj/emacs-27/include
1       /c/Users/juanj/emacs-27/lib
17      /c/Users/juanj/emacs-27/libexec
98      /c/Users/juanj/emacs-27/share
366     total

A 32% reduction in size.

--
Juan José García Ripoll
http://juanjose.garciaripoll.com
http://quinfog.hbar.es