diff --git a/README.md b/README.md
index 808c72c3..99d530c4 100644
--- a/README.md
+++ b/README.md
@@ -1,7 +1,8 @@
 wine-compholio
 ==============
 
-The Wine "Compholio" Edition repository includes a variety of patches for Wine to run common Windows applications under Linux.
+The Wine "Compholio" Edition repository includes a variety of patches ") for
+Wine to run common Windows applications under Linux.
 
 These patches fix the following Wine bugs:
 
@@ -16,7 +17,6 @@ These patches fix the following Wine bugs:
 * Support for interface change notifications ([Wine Bug #32328](http://bugs.winehq.org/show_bug.cgi?id=32328 "Many .NET and Silverlight applications require SIO_ADDRESS_LIST_CHANGE for interface change notifications"))
 * Support for inherited file ACLs ([Wine Bug #34406](http://bugs.winehq.org/show_bug.cgi?id=34406 "Finale Notepad 2012 doesn't copy/create user files on program start"))
 
-
 Besides that the following additional changes are included:
 
 * Lockfree algorithm for filedescriptor cache (improves file access speed)
@@ -27,3 +27,44 @@ Besides that the following additional changes are included:
 * Workaround for shlwapi URLs with relative paths
 * XEMBED support for embedding Wine windows inside Linux applications
 
+# Compiling wine-compholio
+
+In order to wine-compholio, please use the recommended Makefile based approach which
+will automatically decide whether to use 'git apply' or 'gitapply.sh'. The following
+instructions (based on the [Gentoo Wiki](https://wiki.gentoo.org/wiki/Netflix/Pipelight#Compiling_manually)
+will give a short overview how to compile wine-compholio, but of course not explain
+details. Make sure to install all required wine dependencies before proceeding.
+
+As the first step please grab the latest Wine source:
+```bash
+wget http://prdownloads.sourceforge.net/wine/wine-1.7.22.tar.bz2
+wget https://github.com/compholio/wine-compholio-daily/archive/v1.7.22.tar.gz
+```
+Extract the archives:
+```bash
+tar xvjf wine-1*.tar.bz2
+cd wine-1*
+tar xvzf ../v1.7.22.tar.gz --strip-components 1
+```
+And apply the patches:
+```bash
+make -C ./patches DESTDIR=$(pwd) install
+```
+Afterwards run configure (you can also specify a prefix if you don't want to install
+wine-compholio system-wide):
+```bash
+./configure --with-xattr
+```
+Before you continue you should make sure that ./configure doesn't show any warnings
+(look at the end of the output). If there are any warnings, this most likely means
+that you're missing some important header files. Install them and repeat the ./configure
+step until all problems are fixed.
+
+Afterwards compile it (and grab a cup of coffee):
+```bash
+make
+```
+And install it (you only need sudo for a system-wide installation):
+```bash
+sudo make install
+```
diff --git a/debian/tools/patchupdate.py b/debian/tools/patchupdate.py
index dffeaaae..09420068 100755
--- a/debian/tools/patchupdate.py
+++ b/debian/tools/patchupdate.py
@@ -197,6 +197,12 @@ def read_patchsets(directory):
 
     return patches
 
+def read_changelog():
+    with open("debian/changelog") as fp:
+        for line in fp:
+            r = re.match("^([a-zA-Z0-9][^(]*)\((.*)\) ([^;]*)", line)
+            if r: yield (r.group(1).strip(), r.group(2).strip(), r.group(3).strip())
+
 def generate_makefile(patches, fp):
     fp.write("#\n")
     fp.write("# This file is automatically generated, DO NOT EDIT!\n")
@@ -256,37 +262,95 @@ def generate_makefile(patches, fp):
             fp.write("\ttouch %s.ok\n" % patch.name)
         fp.write("\n");
 
+README_template = """wine-compholio
+==============
+
+The Wine \"Compholio\" Edition repository includes a variety of patches ") for
+Wine to run common Windows applications under Linux.
+
+These patches fix the following Wine bugs:
+
+@@bugs@@
+
+Besides that the following additional changes are included:
+
+@@fixes@@
+
+# Compiling wine-compholio
+
+In order to wine-compholio, please use the recommended Makefile based approach which
+will automatically decide whether to use 'git apply' or 'gitapply.sh'. The following
+instructions (based on the [Gentoo Wiki](https://wiki.gentoo.org/wiki/Netflix/Pipelight#Compiling_manually)
+will give a short overview how to compile wine-compholio, but of course not explain
+details. Make sure to install all required wine dependencies before proceeding.
+
+As the first step please grab the latest Wine source:
+```bash
+wget http://prdownloads.sourceforge.net/wine/wine-@@version@@.tar.bz2
+wget https://github.com/compholio/wine-compholio-daily/archive/v@@version@@.tar.gz
+```
+Extract the archives:
+```bash
+tar xvjf wine-1*.tar.bz2
+cd wine-1*
+tar xvzf ../v@@version@@.tar.gz --strip-components 1
+```
+And apply the patches:
+```bash
+make -C ./patches DESTDIR=$(pwd) install
+```
+Afterwards run configure (you can also specify a prefix if you don't want to install
+wine-compholio system-wide):
+```bash
+./configure --with-xattr
+```
+Before you continue you should make sure that ./configure doesn't show any warnings
+(look at the end of the output). If there are any warnings, this most likely means
+that you're missing some important header files. Install them and repeat the ./configure
+step until all problems are fixed.
+
+Afterwards compile it (and grab a cup of coffee):
+```bash
+make
+```
+And install it (you only need sudo for a system-wide installation):
+```bash
+sudo make install
+```
+"""
+
 def generate_readme(patches, fp):
-    fp.write("wine-compholio\n")
-    fp.write("==============\n")
-    fp.write("\n")
-    fp.write("The Wine \"Compholio\" Edition repository includes a variety of patches ")
-    fp.write("for Wine to run common Windows applications under Linux.\n")
-    fp.write("\n")
-    fp.write("These patches fix the following Wine bugs:\n")
-    fp.write("\n")
 
-    all_bugs = []
-    for i, patch in patches.iteritems():
-        for (bugid, bugname, description) in patch.fixes:
-            if bugid is not None: all_bugs.append((bugid, bugname, description))
-    for (bugid, bugname, description) in sorted(all_bugs):
-        if description is None: description = bugname
-        fp.write("* %s ([Wine Bug #%d](http://bugs.winehq.org/show_bug.cgi?id=%d \"%s\"))\n" % (description, bugid, bugid, bugname))
+    def _all_bugs():
+        all_bugs = []
+        for i, patch in patches.iteritems():
+            for (bugid, bugname, description) in patch.fixes:
+                if bugid is not None: all_bugs.append((bugid, bugname, description))
+        for (bugid, bugname, description) in sorted(all_bugs):
+            if description is None: description = bugname
+            yield "%s ([Wine Bug #%d](http://bugs.winehq.org/show_bug.cgi?id=%d \"%s\"))" % (description, bugid, bugid, bugname)
 
-    fp.write("\n")
-    fp.write("\n")
-    fp.write("Besides that the following additional changes are included:\n")
-    fp.write("\n")
+    def _all_fixes():
+        all_fixes = []
+        for i, patch in patches.iteritems():
+            for (bugid, bugname, description) in patch.fixes:
+                if bugid is None: all_fixes.append(description)
+        for description in sorted(all_fixes):
+            yield description
 
-    all_fixes = []
-    for i, patch in patches.iteritems():
-        for (bugid, bugname, description) in patch.fixes:
-            if bugid is None: all_fixes.append(description)
-    for description in sorted(all_fixes):
-        fp.write("* %s\n" % description)
+    def _enum(x):
+        return "* " + "\n* ".join(x)
 
-    fp.write("\n")
+    def _latest_stable_version():
+        for package, version, distro in read_changelog():
+            if distro.lower() == "unreleased": continue
+            return version
+
+    template = README_template
+    template = template.replace("@@bugs@@", _enum(_all_bugs()))
+    template = template.replace("@@fixes@@", _enum(_all_fixes()))
+    template = template.replace("@@version@@", _latest_stable_version())
+    fp.write(template)
 
 if __name__ == "__main__":
     patches = read_patchsets("./patches")