Registration-free COM is probably a much better option.
It depends on the exact requirement; for instance, if the issue is
that [due to licencing etc] the COM component can't be available on
all development desktops (but will be on production machines), and you
simply need the project to *build*, then "tlbimp" is a workable answer
(of course you also need to fail gracefully if the component isn't
there, usually by using a mock). [this is a problem I've had to work
around a few times].
If the issue is that you need to *deploy* the COM without registering
it - the yes, registry free COM is the answer.
Marc