Might also be a matter of loword not being a build in or so.
So if it is a buildin, it can be used in situations that ask an adress, or not.
You can always file it, but having some context is better (like is this in all Delphi versions so?)
Based on the code the compiler (Delphi 2.0 - in my case) generated, it looks like the compiler "knows"/"calculates" the target address.
I don't know if that behavior is present in all versions of Delphi. The only version I keep installed on my machine is Delphi 2.0.
It would be nice if other people, who do have multiple versions of Delphi "on hand", could test the code I submitted and answer your question.
ETA:@Serge:
Thank you for trying it out in other versions of Delphi.
ETA 2:Given Serge's results, I don't think this behavior should be reported as a bug since it is not even consistent across versions of Delphi.