UPDATE: On Windows 7 (probably Vista and later) look for "mklink". Allows hard links and symbolic links.
Today I learnt about a tool for NTFS file system that can be used to create links similar to *NIX symbolic links under Windows. I was very surprised with this discovery (thanks to Carlos Pereira btw). I use symbolic links in Linux and UNIX all the time. I guess everyone I know that has used any Linux or UNIX system for sometime knows about symbolic links. I cannot say the same thing about Windows sysadmins and linkd.
In less than a month, I learnt about using mount points and symbolic links under Windows.
A little example of use:
Creating a link to the c:\windows folder
C:\> linkd win c:\windows
Deleting the link
C:\> linkd win /d
ATTENTION: do not try to delete links with the command "del 'link'"! It will delete all the files inside the link target folder.