To extract files from a .msi file using command line type:
msiexec /a PathToMSIFile /qb TARGETDIR=DirectoryToExtractTo
For example, to extract files from e:\Office\Outlook.msi into c:\Outlook you would type:
msiexec /a e:\Office\Outlook.msi /qb TARGETDIR=c:\Outlook
The destination directory does not need to exist prior to running this command.