I'm finally realizing (maybe the last person to cotton on to this), that starting with Windows Vista, we now have the capability to create Unix-style symlinks between Windows files and folders. YIPPEE!
It's done with the mklink command (from the cmd window):
mklink Creates a symbolic link. MKLINK [[/D] | [/H] | [/J]] Link Target /D Creates a directory symbolic link. Default is a file symbolic link. /H Creates a hard link instead of a symbolic link. /J Creates a Directory Junction. Link specifies the new symbolic link name. Target specifies the path (relative or absolute) that the new link refers to.
mkdir lib cd lib mklink /D touch ..\..\sencha
And voila - no copying.
Worth noting - to remove the link, use a regular delete: DEL or RMDIR depending.