This is so incredibly useful that I have swiped it from Mac OS X Hints to post here… We’ve had the ability to create share points when using personal file sharing for quite some time. Simply click a folder and select File -> Sharing, set your options, and go. With OS X, that functionality seems to have disappeared. According to Apple, we need OS X Server for this, but that is not so. Here’s how you can create your very own share points in Mac OS X:
Notes: Users with admin privledges may not see the new share point, since they can see all volumes from the top anyway. Also, if you share items with spaces anywhere in the path, do not quote or otherwise escape the spaces when you add the directory_path into netinfo. If the volume being shared is read only (a CD ROM, for example), then just skip step seven.