> it does not internally do equivalent of unix mounting, it just presents volumes in predetermined places of directory hierarchy
Why does it matter what it does internally (unless you are knee deep in WDK work)? SetVolumeMountPoint() pretty much acts like mount() as far as the userspace is concerned.
The fact that large swatches of win32 API are implemented as userspace abstractions is wonderful source of weird windows behavior. For example, changing current directory is not thread safe (not only in the way that you don't know which directory is really current in presence of multiple threads changing it, but SetCurrentDirectory() itself is not an atomic operation)