Virtual CD-ROM Control Panel is a utility, released by Microsoft, that allows you to take an ISO disk image file and have it mounted as a virtual CD-ROM drive on your computer.  This is a valuable ability, allowing you to grab single files from a disk image, perform installations just like any normal CD install routine, or recover backup files.

The utility is compatible with Windows XP, Windows Vista, and Windows 7 and Windows Server 2003/2008/2008 R2, giving it similar functionality that is already baked into Windows 8. Windows 8 supports ISO files natively, automatically assigning an available drive letter when the file is accessed.

You can download the utility from here:  Virtual CD-ROM Control Panel

P.S.While Microsoft is making the utility available from their Download Center, they state that the tool is NOT supported. Don't you hate when vendors do that?