THE PLT SAID THAT WHEN HE CALLED ON THE RADIO PRIOR TO THE APPROACH FOR AN ALTIMETER SETTING THE REPLY WAS '30.11 OR 30.12, SOMETHING LIKE THAT.' THE ACFT ALTIMETER WAS FOUND AFTER THE ACCIDENT SET AT 30.22 INCHES OF MERCURY. THE VISIBILITY WAS DESCRIBED AS 1 AND 1/2 MILES IN SNOW SHOWERS. HE CONTINUED THE APPROACH 'BECAUSE MINIMUMS ARE ONE MILE.' HE DESCENDED OUTBOUND TO 4500 FT. MINIMUM PROCEDURE TURN ALT IS 4700 FT MSL. THE PLT THEN DESCENDED TO 3700 FT MSL AS HEAPPROACHED THE VOR. POWER WAS REDUCED TO 17-18 INCHES OF MANIFOLD PRESSURE AND AIRSPEED REDUCED TO 120 KTS. AS THE VOR WAS CROSSED HE GLANCED AT THE ALTIMETER AND 'THE HANDS WERE IN THE TWO O'CLOCK POSITION.' LANDING GEAR WAS EXTENDED AND APPROACH FLAPS SET. THE PLT SAID ALL SEEMED NORMAL. HE LOOKED OUT THE WINDOW AND SAW 'WISPY CLOUDS GOING BY RAPIDLY. THEN THERE WERE THE SOUNDS OF IMPACT.' THE NEXT THING REMEMBERED WAS THE SOUND OF DRIPPING GASOLINE. THE PLT SAID HE CRAWLED OUT OF THE COCKPIT WINDOW AND WANDERED 'FOR A COUPLE HOURS TRYING TO CHASE DOWN THE SEARCH LIGHTS.'