Finally!!!
After a complete cleanup of Panda installed libraries, removing Panda Game, get rid of python 2.6.6 and completing a repair of VS2008 ->> things are back to normal and this ugly '#&@@!! include parse-inc phenomenon has disappeared.
Still don’t know what was going on but believe me it has been a nightmare!
Thanks a lot for your support, and sorry for bringing up this crazy riddle 
[i]PS. For my education only : Still related to having python/libs in the lib path, here is what happens if I don’t have it (even if I have listed libp3pystub.lib) :
1>Linking… (Intel C++ Environment)
1>ipo: remark #11081: Cannot open library python27.lib from #pragma comment
don’t know where this pragma comes from…
so again: why python stuff should be involved at all while compiling/linking a simple c++ panda app ?[/i]