I have also a problem with this strip.exe tool under Lazarus. I'm using FPC v2.6.4 and Laz v1.2.6 under w7.
Trying to get that 15Mb a bit smaller, since tbh, for tool that counts 1+1 it is a bit much. So debugging data have to go.

I did follow these instructions:
http://lazplanet.blogspot.fi/2013/03/how-to-reduce-exe-file-size-of-your.htmlI assume I would also go through just project settings, but since there is now rather simplistic problem in hand (hope so) I would like to know the solution, I have stried some alteration of the "working directory path" as follows: "$ProjPath()" --strip-all "$TargetFile()" etc. , but obviously ending even more obscure result of wrong path.
The fields are like:
C:\FPC\2.6.4\bin\i386-win32\strip.exe
--strip-all "$TargetFile()"
The wrong path error is then:
Unable to run the tool "Strip current EXE":
Working directory C:\lazarus\--strip-all
"C:\users\Me\Desktop\MyProject\Verkko.exe"\ not found.
The C:\Lazarus\ is the folder as set in the "IDE options"
How I can get rid of that? So the tool can work no matter the project folder..
Thank you.