ImDisk Toolkit is an extension of the ImDisk Virtual Disk Driver which makes it even more capable and easier to use.
The program's major feature is its ability to mount various image formats as virtual drives, allowing you to access them in Explorer. There's support for vhd, vdi amd vmdk images, for instance; iso, nrg and bin; dmg; sdi; and raw formats, including img, ima, raw and vfd.
It's easy to create image files, too - simply right-click a drive and select "Save disk contents as image file".
You also get the ability to create a RAM disk, a super-fast virtual drive which uses your system memory. This is extremely configurable, too: you can set its size, drive letter, file system and cluster size, as well as saving its contents as an image, or loading content from an image file when it's first created.
And there are assorted smaller features, like the ability to hide specific drives in Explorer with a click.
Version 20161230 (full changelog)
A very powerful but easy-to-use set of virtual drive-related tools