Your problem may be that you're not actually linking to CLISP.  The actual .exe is usually found as "...\clisp\full\lisp.exe"  You might want to try changing the

(setq inferior-lisp-program "c:/lisp/clisp/clisp -K full")

to the full path of the lisp program.  Mine is:

(setq inferior-lisp-program "C:/home/bin/clisp/full/lisp.exe
-B C:/home/bin/clisp/full
-M C:/home/bin/clisp/full/lispinit.mem
-K full
-ansi -q")

Good luck,

Shawn