The reversal of the ui and the .py should not matter (as long as the .py follows the -o). That DLL import error and the "not valid win32 app" looks like PyQt itself is not installed properly.

My first guess would be that you are on 64-bit and the PyQt may be requiring 32. This came up with a quick google and it appears you aren't the only one with that problem.

There is a possible workaround in the second comment.. but as I don't have windows I have no idea if there's an easier way or that problems actually supposed to have been resolved by now (last post in Feb).