There certainly is a need to index and search the vast amount of data that's now in our ever growing HDs. Is the search feature in the latest Windows versions capable of tackling this?
Everything Search only indexes file names, so you can't search via date modified or anything like that, but it is super-fast and supports regular expressions. Need to find a word doc that begins with 'ca'? Just type '^ca.*\.docx?', instant results.
You can also install the client on multiple networked PCs, run the "ETP Server," and search a remote computer's files, and double-clicking a result will open the SMB path to that file. I use this all the time to quickly find videos on my file server.