K tomu nepotrebujes zadnou komponentu
Spust si:

uses
 ShellApi;

procedure xxxxx
var
  s: AnsiString;
  sl: TStringList;
begin  
  s := ChangeFileExt(Application.ExeName, '.LOG');
  ShellExecute(0, 'C:\Windows\System32\IPConfig.exe', PAnsiChar('>'+s), nil, SW_Hide);
  Sleep(200);
  sl := TStringList.Create;
  sl.LoadFromFile(s);
  { tady si to zpracuj, pripadne to primo zobraz treba v Memo: Memo.Lines.LoadFromFile(s) }
  ...
  sl.Free;
end;

Samozrejme ciste je zjistit systemovy adresar pomoci napr. SHGetSpecialFolderLocation(), ale pro skolni priklad by to melo stacit