In the pre-Vista days, copying a file or folder path to the clip-board involved 5 steps. You had to right-click on the file or folder, select Properties, highlight the path, right-click again, and select Copy. That’s way too many steps for a task as simple as copying a path.
In Vista you have a much simpler and straight forward way of doing the same. Hold the Shift key when right-clicking on a file or folder and select Copy as Path.