Not sure if this goes here but anyway..
So I compiled quake2world with no problems with this configure options:
./configure --bindir=/somedir/quake2 --libdir=/somedir/quake2 (the same happen with --prefix=/somedir/quake2world)
but when I run quake2wolrd it look like this: http://img214.imageshack.us/my.php?image=quake2worldyi4.jpg
Using /home/xxxx/.quake2world/default for writing.
Sound initialized 16bit 48KHz 2ch.
Renderer: GeForce 8600 GT/PCI/SSE2/3DNOW!
Vendor: NVIDIA Corporation
Version: 2.1.1 NVIDIA 100.14.19
Video initialized 1024x768x32bpp windowed.
Seems like you were bit by autotools. Your screenshot shows clearly that the engine can not find the game data (namely, conchars.tga). Either you didn't download the data via rsync, or it's not where Quake2World expects it to be.
The expected layout is as follows:
$prefix/share/quake2world <-- game data lives here
Perhaps you forgot --datadir? Why not just use --prefix instead? Better yet, why not just use the defaults?
Anyway, the above information should have you on your way.
So if I create a Quake2world directory, I should include the folders share, lib, and bin and spread the data among them to make them run properly?
The directory structure I described above is how GNU/Linux packages are typically installed. Q2W is very normal in this regard. On Windows, the Update.bat script creates the correct structure for that platform.
In short, use the defaults and don't worry about it :)