Interesting as a complement to fsutil and mklink and FindLinks and Junction: Link Shell Extension and ln.exe.
It allows you to create and maintain “Hardlinks, Junctions , Volume Mountpoints , and Windows7/8’s Symbolic Links, (herein referred to collectively as Links) a folder cloning process” and more.
Note that Link Shell Extensions require NTFS5 or higher (NTFS.sys version 5, which corresponds with NTFS v3.1)
–jeroen
via: Link Shell Extension.