Is there something to let RAR files be opened like a normal folder?

I know since windows XP or Vista at least, Windows has been able to open ZIP files as if they were just a folder. I was wondering if there is a program or a plugin of sorts to allow RAR folders to be opened likewise. More importantly: to have the same options in the context menus as a normal Windows context menu would have for compressed files. If it's important, I'm running Windows 7, 64-bit. It'd be nice to have a program that works with x86 and x64 systems though.