Olof Lagerkvist, the well known author of the popular ImDisk has released an open source virtual SCSI driver.
With that driver, you can mount a virtual disk which will be seen as physical disk by windows.
This vritual disk will appear as a disk in your devices but also in your disk management console.
Read more here.
Being quite enthusiast about this driver, I have decided to come up with a GUI named ImgMount, read more here.