Add SublimeText 2 context menu to windows explorer. If item is folder, context menu has option "open in sublimetext project". If is file, "open in sublime text 2" option is added to context menu. Tested on windows 7

sublimeText2_contextMenu.reg

Windows Registry Editor Version 5.00

; This will make it appear when you right click ON a folder
; The "Icon" line can be removed if you don't want the icon to appear

[HKEY_CLASSES_ROOT\Directory\shell\sublime]
@="Open Folder as Sublime Project"
"Icon"="\"C:\\Program Files\\Sublime Text 2\\sublime_text.exe\",0"

[HKEY_CLASSES_ROOT\Directory\shell\sublime\command]
@="\"C:\\Program Files\\Sublime Text 2\\sublime_text.exe\" \"%1\""

; This will make it appear when you right click INSIDE a folder
; The "Icon" line can be removed if you don't want the icon to appear

[HKEY_CLASSES_ROOT\Directory\Background\shell\sublime]
@="Open Folder as Sublime Project"
"Icon"="\"C:\\Program Files\\Sublime Text 2\\sublime_text.exe\",0"

[HKEY_CLASSES_ROOT\Directory\Background\shell\sublime\command]
@="\"C:\\Program Files\\Sublime Text 2\\sublime_text.exe\" \"%V\""

; Notepadd++ like open with sublimeText2

[HKEY_CLASSES_ROOT\*\shell\Open with Sublime Text 2]
@="Open with Sublime Text 2"
"Icon"="\"C:\\Program Files\\Sublime Text 2\\sublime_text.exe\",0"

[HKEY_CLASSES_ROOT\*\shell\Open with Sublime Text 2\command]
@="\"C:\\Program Files\\Sublime Text 2\\sublime_text.exe\" \"%1\""

Sweet!! That's exactly what I was looking for. I'm surprised that ST doesn't include something like this in the setup process.