If you are a power user you probably know Windows XP power toy called “Open Command Prompt Here” which adds a context menu item to open a command prompt at the selected folder in the windows explorer.

In Windows Vista and also in Windows 7, you can simply hold the Shift key down while selecting the context menu (right click on a folder) to see this option. If the current working directory is a network location, it will automatically map a drive letter for you.