Launching CMD.EXE or PowerShell in a specific folder got MUCH EASIER in Windows 8 thanks to the File Explorers's File Menu.
First open any explorer window. For example below is a folder in my local SkyDrive. Then click on the File menu in the upper left hand corner.
The first think you'll notice is that has a useful frequent places list.
To launch CMD.EXE:
To Launch PowerShell
But be aware of which folder CMD.EXE or PowerShell will be started in.
You can see thay the explorer window is open D:\saveenr\skydrive\Public
If nothing is selected as shown below
Then clicking on File > Open Windows PowerShell will start the PowerShell session in current location (D:\saveenr\skydrive\Public)
However, if something is selected, for example the Visio folder then the PowerShell instance will start in that folder (D:\saveenr\skydrive\Public\Visio)
It even supports multi-select – if multiple folders are selected, then multiple PowerShell instances will be launched