This function retrieves the shortcut's target path. A remote application interface (RAPI) version of this function exists, CeSHGetShortcutTarget (RAPI). (From MSDN.)

static extern bool SHGetShortcutTarget(StringBuilder szShortcut, StringBuilder szTarget, int cbMax);

http://msdn.microsoft.com/library/default.asp?url=/library/en-us/wceui40/html/cerefSHGetShortcutTarget.asp