Windows Batch Scripting: Newest File Matching a Pattern

This would be lightning quick in linux, but I'm not familiar enough with windows flavour of batch scripting.

Basically I want to look for a series of files matching a certain wildcard, and get the one with the most recent modified date.

I've gotten as far as:

for %%X in (*.exe) do (
REM Do stuff....
)

But I'm not sure what manner of comparison operators there are, or if there's a better way of doing this.

Anyone offer up any good solutions? Ideally it would involve a vanilla install of Vista; so no special trickery like cygwin/etc.

Ah, found it:

for /f %%x in ('dir *.exe /B /O:-D') do set NEWEST_EXE & goto DONE

:DONE

There's almost certainly a more sane way to do this in PowerShell.
But if it has to be cmd.exe:

FOR /f %f IN ('DIR /b /od *.exe') DO @SET last=%f

ECHO %last%

DIR /b lists just the filename, like ls -1 would do; the /od is of course date order.
So the last iteration sets the name of the last file in the list.