As much as I respect wwb_99, I'm fully aware that his avatar used to be MS with a big dollar sign and the words MS Shill. Wyatt is extremely knowledgeable about WinDoze systems but I wouldn't use anything M$ on a production (and, therefore, test either) server.
Much as SS said, open WinDoze Explorer, right click on My Computer and select Manage (as administrator). Then click the Manage Drives. From there, you can resize, rename, etc to your heart's content. HOWEVER, I've just been through my second bout with WinDoze about moving the OS to a SSD and it's a PITA so, if you have problems, the AOMEI Partition Assistant Pro does an excellent job - much like the old PowerQuest Partition Magic which was bought then killed by Symantec ;(
Personally, I created a W: drive, named it "Web", and have my Apache and PHP sitting on it along with all my virtual host directories. Of course, you'll still need to edit the hosts file (C:\Windows\System32\drivers\etc\hosts - extensionless file) as Administrator but that's all the PITA you have to deal with Win7 about.