Part of the Gizmo Center of freeware tools, Gizmo Drive is a virtual drive emulator that can mount a whopping 26 virtual drives. With support for many types of image files, such as the ubiquitous .iso, you can mount images, or create new ones ready for burning through the likes of ImgBurn.
Verdict: Gizmo Drive offers the ability to keep a massive number of virtual drives online, supports many image formats, has a neat interface, and comes free. All of this makes it a good bargain.
Editor's Note: For a simpler alternative, consider DAEMON Tools lite.
We hope these apps cover most of the basics, but of course, there's a wealth of utilities out there. Have any more that you'd like to recommend to new users? Make yourself heard in the comments section below!