This happens to me many times: I was in Windows Explorer deep down in a folder structure, saw a file, and realized that I wanted to run a command line tool on that file.
What I have done in the past is to go to a command shell, and issue a series cd commands to get to the target directory and run the command line tool.
Not any more, thanks to chere ("Command prompt Here"), a newly arrived Cygwin utility. Running
[weiqi@gao] $ chere -i
installs a context menu "Bash Here" for folders in Windows Explorer. It opens a bash shell at the right directory.
Likewise, running
[weiqi@gao] $ chere -i -s cmd
installs a context menu "Command Prompt Here" that opens the CMD.EXE prompt.