Finally I managed to solve it. As it turned out there is new function in Vista and above for getting process path and new process access (PROCESS_QUERY_LIMITED_INFORMATION):
Here is the code that works from non-elevated process:
private static string GetExecutablePathAboveVista(UIntPtr dwProcessId)
{
StringBuilder buffer = new StringBuilder(1024);
IntPtr hprocess = OpenProcess(ProcessAccessFlags.PROCESS_QUERY_LIMITED_INFORMATION, false, dwProcessId);
if (hprocess != IntPtr.Zero)
{
try
{
int size = buffer.Capacity;
if (QueryFullProcessImageName(hprocess, 0, buff, out size))
{
return buffer.ToString();
}
}
finally
{
CloseHandle(hprocess);
}
}
return string.Empty;
}