Use irfanview, google it, one of the more useful things on the Web.
Install it, run it, and drag the .exe onto the Irfanview screen.
The icon will show up in the Irfanview screen. If there are multiple icons, you can page thru them by clicking the DOWN arrow on the menu bar at the top of the Irfanview screen.
You can export all of them using OPTIONS -> EXTRACT_ALL_FRAMES. Try different file types for best resolutions. .ICO type is a good place to start.
I just extracted about 50 icons from a windows 3.1 executable in about 1 second.
- john