sas.dll is not included to Windows 8 SDK. Use one from from Windows 7 SDK instead.

build/common.gypi

 # Copyright (c) 2012 The Chromium Authors. All rights reserved.
 # Use of this source code is governed by a BSD-style license that can be
 # found in the LICENSE file.
 
 # IMPORTANT:
 # Please don't directly include this file if you are building via gyp_chromium,
 # since gyp_chromium is automatically forcing its inclusion.
 {
   # Variables expected to be overriden on the GYP command line (-D) or by
   # ~/.gyp/include.gypi.
@@ skipping 331 matching lines @@
       # be done while the builders are being reconfigured to check out test data
       # files.
       'test_isolation_mode%': 'noop',
       # It must not be '<(PRODUCT_DIR)' alone, the '/' is necessary otherwise
       # gyp will remove duplicate flags, causing isolate.py to be confused.
       'test_isolation_outdir%': '<(PRODUCT_DIR)/isolate',
 
        # Force rlz to use chrome's networking stack.
       'force_rlz_use_chrome_net%': 1,
 
-      'platformsdk_path%': '<(DEPTH)/third_party/platformsdk_win7/files',
+      'sas_dll_path%': '<(DEPTH)/third_party/platformsdk_win7/files/redist/x86',
       'wix_path%': '<(DEPTH)/third_party/wix',
 
       'conditions': [
         # TODO(epoger): Figure out how to set use_skia=1 for Mac outside of
         # the 'conditions' clause.  Initial attempts resulted in chromium and
         # webkit disagreeing on its setting.
         ['OS=="mac"', {
           'use_skia%': 1,
         }, {
           'use_skia%': 1,
@@ skipping 198 matching lines @@
     'linux_use_gold_binary%': '<(linux_use_gold_binary)',
     'linux_use_gold_flags%': '<(linux_use_gold_flags)',
     'use_canvas_skia%': '<(use_canvas_skia)',
     'test_isolation_mode%': '<(test_isolation_mode)',
     'test_isolation_outdir%': '<(test_isolation_outdir)',
     'enable_automation%': '<(enable_automation)',
     'enable_printing%': '<(enable_printing)',
     'enable_captive_portal_detection%': '<(enable_captive_portal_detection)',
     'force_rlz_use_chrome_net%': '<(force_rlz_use_chrome_net)',
     'enable_task_manager%': '<(enable_task_manager)',
-    'platformsdk_path%': '<(platformsdk_path)',
+    'sas_dll_path%': '<(sas_dll_path)',

[cpu_(ooo_6.6-7.5), 2012/06/27 02:05:53]

scary change, but hopefully nothing explodes.

     'wix_path%': '<(wix_path)',
     'android_upstream_bringup%': '<(android_upstream_bringup)',
 
     # Use system yasm instead of bundled one.
     'use_system_yasm%': 0,
 
     # Default to enabled PIE; this is important for ASLR but we may need to be
     # able to turn it off for various reasons.
     'linux_disable_pie%': 0,
 
@@ skipping 212 matching lines @@
 
     # Disable Dart by default.
     'enable_dart%': 0,
 
     # The desired version of Windows SDK can be set in ~/.gyp/include.gypi.
     'msbuild_toolset%': '',
 
     # Native Client is enabled by default.
     'disable_nacl%': 0,
 
-    'platformsdk_exists': '<!(python <(DEPTH)/build/dir_exists.py <(platformsdk_path))',
+    'sas_dll_exists': '<!(python <(DEPTH)/build/dir_exists.py <(sas_dll_path))',
     'wix_exists': '<!(python <(DEPTH)/build/dir_exists.py <(wix_path))',
 
     'conditions': [
       ['os_posix==1 and OS!="mac"', {
         # This will set gcc_version to XY if you are running gcc X.Y.*.
         # This is used to tweak build flags for gcc 4.4.
         'gcc_version%': '<!(python <(DEPTH)/build/compiler_version.py)',
         # Figure out the python architecture to decide if we build pyauto.
         'python_arch%': '<!(<(DEPTH)/build/linux/python_arch.sh <(sysroot)/usr/<(system_libdir)/libpython<(python_ver).so.1.0)',
         'conditions': [
@@ skipping 2321 matching lines @@
     # settings in target dicts.  SYMROOT is a special case, because many other
     # Xcode variables depend on it, including variables such as
     # PROJECT_DERIVED_FILE_DIR.  When a source group corresponding to something
     # like PROJECT_DERIVED_FILE_DIR is added to a project, in order for the
     # files to appear (when present) in the UI as actual files and not red
     # red "missing file" proxies, the correct path to PROJECT_DERIVED_FILE_DIR,
     # and therefore SYMROOT, needs to be set at the project level.
     'SYMROOT': '<(DEPTH)/xcodebuild',
   },
 }