cmdhere on win7

Shift + right-click shows a context menu with additional entries such as Open command window here.

To add Open powershell here with and without elevated privileges:

Windows Registry Editor Version 5.00
[HKEY_CLASSES_ROOT\Directory\shell\ps]
  @="Open powershell here"
[HKEY_CLASSES_ROOT\Directory\shell\ps\command]
  @="C:\\windows\\system32\\WindowsPowerShell\\v1.0\\powershell.exe -NoExit -Command Set-Location -LiteralPath '%L'"
[HKEY_CLASSES_ROOT\Directory\shell\Runas]
  @="Open admin powershell here"
[HKEY_CLASSES_ROOT\Directory\shell\Runas\Command]
  @="C:\\windows\\system32\\WindowsPowerShell\\v1.0\\powershell.exe -NoExit -Command Set-Location -LiteralPath '%L'"
[HKEY_CLASSES_ROOT\Drive\shell\ps]
  @="Open powershell here"
[HKEY_CLASSES_ROOT\Drive\shell\ps\command]
  @="C:\\windows\\system32\\WindowsPowerShell\\v1.0\\powershell.exe -NoExit -Command Set-Location -LiteralPath '%L'"
[HKEY_CLASSES_ROOT\Drive\shell\runas]
  @="Open powershell admin here"
[HKEY_CLASSES_ROOT\Drive\shell\runas\command]
  @="C:\\windows\\system32\\WindowsPowerShell\\v1.0\\powershell.exe -NoExit -Command Set-Location -LiteralPath '%L'"

Keys having runas in their names are the ones that will trigger elevated privileges. So yes, it seems we can only map one elevated command per HKEY_CLASSES_ROOT key…