I have installed it... this is my short review.

Overall:
If you have some sensitive files (documents, photos, images, projects or videos *ahem*) that you don't want to have the public snoop-about by anyone else, then Microsoft Private Folder 1.0 is a simple solution for you. Just install and reboot then Voila!

After installation, it will place an icon on the desktop, allowing you to access it by double-clicking it. It will prompt you for password whenever you need to use it. The good thing is, you can use this folder as like any other folder. So if you want to save a file into your private folder, or open a file from there, just navigate to it, type in password (if not already unlocked).

The first time when you use it, it will prompt you to create password. It even have a password-strength meter/gauge to tell you how strong your password is, and a notice to tell you that if you forgot the password, then you have no way to recover/retrieve files within it.

Upon "unlocking" it for usage, there will be a systray icon in the notification area, which allow you to set options, or lock, and help of course.

Pros:
* Simple to install and use.
* Free.
* Files are encrypted, and have options to export encrypted file for later importation, while retaining password protection.
* Auto lock after several idle minutes (user set).
* Allow importation from another Private Folder (presumably different user, with the correct respective password)
* Support both NTFS and Fat32.

Cons:
* Only 1 copy per user account.
* Can only be on the desktop.
* Folder cannot be accessed from command prompt.
* No accessible over the shared network.
* Folder name cannot be renamed.
* No 64-bit.
* WGA-awared program.

Notes:
* DO NOT FORGET your password.
* Private Folder cannot be deleted or move, other than using the option to remove Private Folder.
* Make sure you have plenty of power juice when changing password, if power gets interrupted, your files may be corrupted and unretrievable.
* DO CHECK OUT the help.