This is taken from a blog here : http://weblogs.asp.net/jkey/archive/2003/02/25/3006.aspx
Just in case the above mentioned blogpost is gone, here is the command to ‘mount’ GAC as a drive.
subst x: “c:\windows\assembly\gac”
It solves the universal problem for the developers who wants to dissemble .net assemblies which are registered in GAC. Enjoy!!!