I'm a day late and a dollar short on this one. If you want to view the folder structure of the GAC in Windows Explorer, you can do this by using the registry:
For a temporary view, you can substitute a drive for the folder path, which strips away the special directory properties.
As for why you'd want to do something like this, I've used this trick to compare GAC'd DLLs between different machines to make sure they're truly the same.