To build VSLisp, just uncompress it's distribution archive, and then
do ./configure in that directory.
Maybe, you'll need some options - try
./configure --help.
Now you can do make; make install.
There are some defines in l_defs.h, and, maybe, you'll
want to change them before building. Please, read that file.
One thing I'll mention here: definition of LP_MALLOC. If you'll
define it, old malloc method will be used to allocate list's
skeletons. It's somewhat slower, but it saves memory for small programs.