Drive Manager has tools to manage your hard drives, optical drives, and removable drives. Drive Manager can show you a huge amount of information about your drive, including physical specs, file system flags, and S.M.A.R.T. data to help you assess the health of your hard drives.
You can use it for something as simple as getting detailed information about the drives you have installed on your machine or for something as advanced as hiding drives from Windows Explorer or mapping folders to a drive letter. Drive Manager is freeware, Windows only.
Drive Manager [via gHacks]