Windows 7 tip: (elevated) command prompt anywhere
By holding shift and right-clicking a folder, you'll see additional commands not listed on the standard menu, such as open in new process, copy as path, and open command window here. Suppose you need a command window with elevated privileges. Then what?
In Windows Vista, it could be done through the start menu by typing cmd into the search box and holding shift+control and hitting enter. This works in Windows 7 as well.
Combine the two, and you've got a right-click elevated command window shortcut: shfit+control+right click on a folder and choose open command window. Check your title bar: if it starts with Administrator, you're set!
Some other sites have posted registry hacks to add a context menu entry for the admin option, but why bother? It's already there - just hidden!