Is there a feature on OS X that does the same as mklink under Windows 7? It can create symbolic links and hard links.
I have just read about this tool to have Dropbox sync an application folder by combining it with mklink on Windows 7, using a hard link:
http://www.hackingfreaks.in/2011/01/9-amazing-software-mashups-killer-free.html
How can I achieve this on OS X?