Windows Explorer and Windows Media Player uses COM to read ID3 tags from mp3 files and any application can do the same.
You need to #include <wmsdk.h>, link against wmvcore.lib and read MSDN docs. Windows Media SDK comes with a working sample to read/set id3 tags.
The bad thing is that windows COM interface does NOT read/write ID3v2.4 tags even today (tested in windows 7).
Component Object Model (COM) is a binary-interface standard for software componentry introduced by Microsoft in 1993. It is used to enable interprocess communication and dynamic object creation in a large range of programming languages.
You were talking about COM as if it was some sort of library. It's just a windows standard for object data. I don't know if you can imagine this, but this had me confused.
COM it is just an interface, that's right. Almost all Microsoft products uses it.
Anyway, to access wmvcore.dll (this is the real library for decoding mp3/wma and other files) you need to use COM.
Even new formats can be decoded using the same interface ( "multimedia codecs" are nothing more than COM servers).