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NTFS supports symlinks... it's just that Windows doesn't (or didn't, I don't know about now) include an easy interface for setting them.

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I use NTFSLink (http://sourceforge.net/projects/ntfslinkext/) which makes it very easy. Right-click in a folder and select New... and then you can choose NTFS Hardlink or NTFS Junction point.

Great app and combined with DropBox, I can sync data folders without having to move them.

Hardlinks and junction points are -not- symbolic links, and have lots of esoteric restrictions and consequences of use.

NTFS does support symbolic links as of Vista.

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