Visual Subst is a small instrument that permit you to associate the most accessed directories with virtual drives. It uses an API similar to the console subst utility, but makes it easier to produce and remove virtual drives in a GUI way.
Using virtual drives, you will be able to turn a long path (D:My DocumentsMy Projects) into just one drive letter (X:).
It may be very useful when working with deep folder hierarchies as well as when working with projects copied from another system.