I'd downloaded the wine from http://linux.softped.../Wine-148.shtml So what do I do now after extracting it?
I'm not sure on the second part of your question (as I use Fedora, not Ubuntu), but for the first part it's relatively painless. The file you have is the source code for the program, and what you need to do is compile the code into a functioning application. Luckily, Wine has an installer to do just that. Personally, I'm most familiar with command line installations, so I'll walk you through it that way.
1) Open your terminal/command line.
2) Use the cd command to change your directory to the extracted Wine folder.
Example: if it was on your desktop, you would use cd /home/<your user name>/Desktop/wine-0.9.32/
3) Once in the Wine directory, use ./tools/wineinstall to execute the "wineinstall" script that is in the "tools" subdirectory, within the Wine directory. Be sure to include the "." before the first "/" as this indicates that you are executing something.
4) Follow the instructions it gives you in the terminal.
5) Once it's installed, you should find it in your "Applications" menu. If you right-click on a .exe file, you should be able to "Open with" an app listed as "wine program." Alternatively, you can open things using the command line via wine /path/to/file/
This should install Wine on your system. If there are any problems, post back and let us know; we can try compiling it manually, instead.