Thanks to Scott Hanselman, now I can easily use PowerShell prompt by right clicking on a folder. You can download the INF file from his blog at http://www.hanselman.com/blog/IntroducingPowerShellPromptHere.aspx.
For those of you who want to have a more powerful scripting language on Windows comparable to *nix platform, you may already been using PowerShell.
As described by Microsoft, PowerShell command line shell and scripting language helps IT professionals achieve greater control and productivity. Using a new admin-focused scripting language, more than 130 standard command line tools, and consistent syntax and utilities, Windows PowerShell allows IT professionals to more easily control system administration and accelerate automation.
The learning curve is not so steep but initially you need to spend some time to get yourself familiarized with it. You will love PowerShell once you started using it.
Other useful links to look for more resources on PowerShell.
The PowerShell Guy - http://thepowershellguy.com/blogs/posh/pages/powertab.aspx
PowerShell Community Extensions - http://www.codeplex.com/PowerShellCX