[Sphinx114]

Можно и без cd:

Код:

@echo off
chcp 1251>nul
for /f "tokens=2* delims=	 " %%i in ('reg query "HKLM\software\Wow6432Node\star4net\DAYZ" /v "Launcher"^| findstr /i \.exe') do (start "" /d"%%~dpj" "%%~j")