<p>How can I open a cmd window in a specific location without having to navigate all the way to the directory I want?</p>

Try out
this "PowerToy" from Microsoft
:
Open Command Window Here
This PowerToy adds an "Open Command
  Window Here" context menu option on
  file system folders, giving you a
  quick way to open a command window
  (cmd.exe) pointing at the selected
  folder.
EDIT :
This software will not work on any version of Windows apart from Windows XP.